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
April 10,2020

Bengaluru, Apr 10: A Karnataka BJP MP's daughter who recovered from COVID-19 has said she did yoga and ''pranayama'' while in hospital quarantine and these were key to defeating the pandemic.

"I was there in the hospital for 14 days. I used to do Yoga and Pranayama. It helps a lot. Everyone should start doing it now," said Ashwini GS, daughter of Davangere MP GM Siddeshwara.

In a video message that went viral on Thursday, she said coronavirus was "not something to be feared and yoga, pranayama and a strong mental state are the key to defeat the pandemic."

Ms Ashwini tested positive for COVID-19 after she had returned from Guyana last month. She was admitted to the SS Hospital in Davangere where she was quarantined for 14 days.

"Throughout my stay in the hospital I did not have any symptom of coronavirus. I neither sneezed, nor coughed or had a running nose. There was no fever either," Ms Ashwini said.

However, she kept herself physically and mentally fit.

"Maintain social distancing, be aware of dos and don'ts and stay safe," the MP's daughter said.

The AYUSH Ministry's protocol has outlined measures to build a strong immune system and it included consuming warm water, practising yogasana, pranayama and meditation for 30 minutes every day.

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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
January 24,2020

Mangaluru, Jan 24: Aditya Rao, who was arrested for planting Improvised explosive device (IED) at Mangaluru airport on January 20, was brought to the airport on Friday for recreation of the crime scene as part of the investigation process.

Yesterday, one more case was registered against Rao in connection with a hoax call to the terminal manager of the airport on January 20, police said.

"One more case has been registered against Aditya Rao at Bajpe Police station for a hoax call to the terminal manager of Mangaluru International Airport on January 20," said PS Harsha, Mangalore Commissioner of Police on Thursday.

Earlier, Harsha informed that Rao, who surrendered before the Bengaluru Police, is now in the custody of Mangaluru Police.

"Our investigation team arrested Aditya Rao in Bengaluru in connection with the planting of an explosive device at Mangaluru airport. We produced the accused before Bengaluru's first JMFC court and the court issued a transit warrant," Harsha said.

"We have brought him to Mangaluru from Bengaluru and now the accused is in our custody. Our investigation team will interrogate him. We will investigate all aspects. He will be produced before Mangaluru 6th JMFC Court," he added.

Rao hails from Udupi and has engineering and MBA degrees.

According to the police, the IED was recovered from a bag at the Mangaluru airport. It was later defused in an open field by the personnel of the bomb disposal squad.

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