Ponzi scam: SIT arrests IMA auditor Iqbal Khan

Agencies
June 14, 2019

Bengaluru, Jun 14: IMA Jewels auditor Iqbal Khan has been arrested by Special Investigation Team (SIT) in the IMA Ponzi scam in Bengaluru, the investigative team confirmed on Friday.

Iqbal Khan, a resident of Frazer town, has been the auditor of IMA for many years.

According to an immigration form, the main accused, IMA Jewels founder Mohammed Mansoor Khan, has flown to Dubai on June 8. As per SIT, efforts are being made to nab Khan.

The 11-member SIT headed by DIG BR Ravikanthe Gowda was formed by the Karnataka government to probe the alleged fraud by the firm, which has an estimated Rs 200 crore investment of Muslim women alone.

The SIT, which is a part of Karnataka Police, on Wednesday, arrested 7 directors of different entities linked to Mansoor Khan, who is accused of allegedly perpetrating financial fraud in Bengaluru.

The accused directors are - Nizamuddin, Nasir Hussain, Naveed Ahmed, Arshad Khan, Wasim, Ansar Pasha and Dada Peer.

The police officials confirmed that over 25, 000 complaints have been filed so far against the company.

It is alleged that IMA Jewels, with Muslims as its prime investors, has not paid interests on investments for the last three months.

Accused Mansoor Khan disappeared after sending an audio clip to some investors threatening to commit suicide due to what he alleged was "harassment" by some politicians and rowdies.

IMA founder Khan, in the said audio clip sent to investors, alleged that rebel Congress MLA Roshan Baig had taken Rs 400 crore and was not paying back. He has, however, refuted the allegation and termed it a "total conspiracy."

Currently, shops of IMA Jewels in Shivaji Nagar are closed.

Scores of investors staged protests outside IMA Jewels' office in Sivaji Nagar, demanding the firm to return their money.

Unfortunately, one of the investors in IMA Jewels died yesterday due to a heart attack. The investor, who has been identified as Abdul Pasha, had invested Rs 8 lakh in the firm for his daughter's marriage. He died in Bengaluru's Sapthagiri hospital.

Comments

ABDUL AZIZ SHE…
 - 
Saturday, 15 Jun 2019

Really very sad people invest in these companies in lakls ,  without having knoweldge

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News Network
March 27,2020

Bengaluru, Mar 27: A 65-year-old coronavirus patient who died in Karnataka this morning after apparently contracting the infection on a train ride has raised concern about community transmission of the highly contagious disease.
The man, the 60th coronavirus patient in Karnataka, died in Tumakuru. It is not known for certain how he caught the virus. The Karnataka Health Department has posted a notice on Twitter asking whoever travelled with him on train to come forward.

He had no history of recent foreign travel but had apparently traveled to Delhi on March 5 by Sampark Kranti Express and returned on March 11.

On March 7, he arrived at Delhi's Nizamuddin station and participated in an event at Jamia Masjid.

The man took a train back on March 11 and arrived at Yeshwantpur in Bengaluru. From there, he took a bus on March 14 to his hometown Sira.

He first showed symptoms of COVID-19 on March 18 and was taken to a private hospital. He was sent home with medicines but his condition worsened.

On March 23, he was admitted to a district hospital, but checked himself out against all advice and went to a private hospital. When his health showed signs of deterioration, he was again sent to the district hospital, where he tested positive for coronavirus yesterday. He died around 10.30 am today.

The health department has since traced 24 people who came in direct contact with him and are so, in the high-risk category. Thirteen are in hospital and eight have tested negative.

"All passengers who had travelled with him on the train are being traced," K Rakesh Kumar, Deputy Commissioner, Tumakuru, was quoted as telling news agency ANI.

A 70-year old woman and a 76-year old man had died of coronavirus or COVID-19 earlier in Karnataka.

India has over 700 coronavirus cases, including 17 deaths.

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News Network
February 12,2020

Bengaluru, Feb 12: Hinting at the possibility of a consolidation of ex-Janata Parivar leaders, JD(S) supremo HD Deve Gowda said Tuesday his party was open to talk to any former Janata leaders, who are at present either in various factions of the Janata Dal or in Congress and BJP. The veteran leader also appreciated Arvind Kejriwal-led AAP's way of work.

At the party's National Executive Committee meeting held here, Gowda said that some ex-Janata Parivar leaders had reached out to him in this regard. His comments come at a time when JD(U) leader Mahima Patel recently rekindled the debate of a unified Janata Parivar.

However, Deve Gowda was clear that he was not interested in pursuing anyone who was happy with the party they were in. "It's a waste of time to pursue someone who has seen success within their party. I am not going to do that. I am willing to persuade only those who are not holding any office at present," he said. He added that he had already asked party leaders in Kerala to take the initiative and figure out ways to bring leaders together. As for other places, it would take him some time to reach out people, he added.

The party, which organised the National Executive Meet here on February 10 and 11, spoke of strategies to rejuvenate the party from the grassroots level. The party is also conducting a membership drive.

'Much to learn from AAP'

There is much to learn from Aam Aadmi Party, which registered a victory in Delhi elections on Tuesday, said Devegowda. "Kejriwal has showed that caste does not matter. There is lesson to be learnt from the work done by AAP," he said. Later in the day, Deve Gowda also wrote a letter to Arvind Kejriwal, congratulating him on his victory.

On the occasion, the party also came up with resolutions to urge the central government to release pending amount of GST it owed to state governments apart from focusing on development of labour, industries and agriculture; to demand the centre to rollback decision on CAA, NRC and NPR and to urge the centre to pass the women's reservation bill.

At the JD(S) National Executive Meet, even as news poured in about the victory of Aam Aadmi Party in Delhi elections, the JD(S) leaders celebrated Arvind Kejriwal's victory. Seeing it as an optimistic sign for regional parties across the country, the leaders distributed sweets to mark the hat trick win of Kejriwal.

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News Network
August 4,2020

Bengaluru, Aug 4: The Central Crime Branch-Bengaluru conducted raids at 35 locations in Hennur and Banaswadi areas on Tuesday morning and arrested seven foreign nationals without valid passports and visas.

The Crime Branch also recovered fake currency during the raid, which is currently underway, informed the police.

"Central Crime Branch-Bengaluru conducted raids at 35 locations in Hennur and Banaswadi area today morning and arrested seven foreign nationals without valid passports and visa, fake currency also recovered," Sandeep Patil, Joint Commissioner of Police, Crime, Bengaluru said.

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