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.

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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
May 6,2020

Dubai, May 6: The Indian nationals cleared by the UAE health authorities and found to be asymptomatic will only be allowed to fly back home in one of India's biggest ever repatriation exercises, the Indian Embassy in Abu Dhabi has said ahead of the first set of flights on Thursday.

On Monday, the Indian government announced plans to begin a phased repatriation of its citizens stranded abroad from May 7. Air India will operate 64 flights from May 7 to May 13 to bring back around 15,000 Indian nationals stranded abroad amid the COVID-19-induced lockdown, India's Civil Aviation Minister Hardeep Singh Puri said on Tuesday.

The first two special flights that will operate from Thursday to evacuate Indians stranded in the UAE due to the coronavirus pandemic will begin with applicants from Kerala, who formed the majority of the expatriates who have registered to be repatriated from here, Indian Ambassador to the UAE Pavan Kapoor has said.

"All departing passengers will have to undergo medical screening and IGM/IGG test at the departure airport and only those cleared by the UAE health authorities and found to be asymptomatic will be allowed to board the plane,” the Indian Embassy in Abu Dhabi said on Tuesday.

According to the embassy, all passengers will be required to sign an undertaking to undergo compulsory quarantine at the destination of arrival and bear the cost of the same.

“Each passenger, at the time of boarding would be handed over a safety kit containing 2 three-layered face masks, 2 pairs of gloves and pouches/small bottles of hand sanitizers. While on board the flight, the health protocol of the Ministry of Civil Aviation of India will be strictly followed,” said the embassy.

The passenger lists for the two flights on May 7 have been finalised by the Embassy / Consulate and sent to Air India Express for issue of tickets.

The Embassy / Consulate will continue conveying the details of further special flights as and when they are announced by the Government of India, over the next few days.

Less than 2,000 Indians wishing to return home from the UAE will be flown to six Indian states in the first week of India’s biggest ever repatriation exercise named Vande Bharat Mission—sans social distancing and COVID-19 tests, the Gulf News reported.

Only those cleared by the UAE health authorities and found to be asymptomatic will be allowed to board the plane.

The short-listed applicants, who were contacted by the Indian missions on Tuesday to purchase tickets for the first two flights to Kerala on Thursday, told the Gulf News that the tickets are priced around Dh 725 to Dh 750 (over Rs 15,000).

Sharjah resident Rasheed Thayyil said his 70-year-old mother Nepheeza Thottungal, who came on a visit to the UAE in February, received an email from the Indian Consulate in Dubai which quoted an airfare of around Dh725 (approx Rs 15,000), the report said.

Another applicant from Abu Dhabi Ambily Babu said she purchased a ticket at Dh 750 from Air India Express for her Abu Dhabi-Kochi flight scheduled to fly on Thursday evening, it said.

Air India Express which is set to operate the first two flights to Kerala on Thursday will operate its Boeing 737-800 aircraft, with a seating capacity of 186 economy class seats, the report added.

With nine seats reserved for isolation, only 177 passengers would be flown, it said.

The Indian expatriate community of approximately 3.42 million is reportedly the largest ethnic community in the UAE constituting roughly about 30 per cent of the country's population, according to information available on the Indian Embassy website.

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News Network
February 25,2020

Bengaluru, Feb 25: A smooth-talking ‘swamiji’ has come under police radar after a widow lodged a complaint stating he cheated her of over Rs 27 crore and three kgs of gold between 2016 and 2019.

The woman, Geetha of Ramamurthynagar, was staying with her three sons after her husband, a landlord, died in 2009. Her family owned several sites in Tavarekere and other parts of the city, apart from a farm near Bethamangala in Kolar district.

Geetha, who had got into property disputes with her relatives, said she was introduced to the accused, Nagaraj C of Bangarapet, who claimed to possess powers to ward off evil spirits, by one of her farm labourers. “I was assured that all my problems would be solved. He came to my house and claimed he had been sent by god and would find solutions to all my problems,” she stated.

Nagaraj allegedly pretended to be possessed by spirits and directed her to give him gold bars. Geetha ended up giving three kgs of gold in the process. Later, he began directing her to sell a few properties stating these were the root cause of her problems. “I sold many properties and pledged a few residential sites. He took Rs 22.5 crore that came from selling properties, apart from Rs 5 crore cash from my husband’s savings,” she stated.

She said Nagaraj took the money from her on the promise of buying alternative properties. “When I demanded he return all my money, he threatened to kill me and my kids using evil spirits,” she alleged.

Police have registered a case of cheating, criminal conspiracy, criminal intimidation under various IPC sections and Karnataka Prevention and Eradication of Inhuman Evil Practices and Black Magic Bill, 2017, against Nagaraj and others.

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News Network
March 23,2020

Bengaluru, Mar 23: Deputy Chief Minister Laxman Savadi cautioned private bus transport services operators, taxis and autorickshaws from exploiting commuters in wake of bus and train services being suspended by the government as precautionary measures to prevent the spread of COVID-19.

In a statement released here on Monday, Transport Minister Savadi said it has come to the notice that private buses, taxis and autorickshaws were misusing the opportunity and exploiting commuters. Inter-district bus services have been suspended in the districts wherein lockdown has been announced to protect the health of people and none should violate the decision of the government, he stated.

Transport and Police Department officials have been asked to taken action against those violating norms and exploiting commuters. Service providers for their profit cannot risk with the health of the people and repeated cases if come to the fore, they will not be spared, Savadi cautioned.

Government has taken measures to prevent spread of COVID-19. Private transport service providers and people should join hands and cooperate to contain it, he appealed. 

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