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
July 22,2020

Mangaluru, Jul 22: As many as 184 people from Karnataka stranded in UAE arrived at Mangalore International Airport.

According to sources, the chartered flight, which landed on Tuesday night, was arranged by the UAE Karnataka Cultural Foundation and Beary Cultural Foundation for Kannadigas who had been stranded following the lockdown and also those who had lost their employment.

A team of officials with Puttur Assistant Commissioner Yathish Ullal and Horticulture Department Assistant Director Praveen who were in charge of quarantine facilities for international passengers verified the documents and sent them for institutional quarantine.

Of the 184 passengers, 141 had remained quarantined in Mangaluru while 42 left for Udupi and one to Honnavara in Uttara Kannada, said sources.

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News Network
May 14,2020

Bengaluru, May 14: Three youths died of "asphyxiation" when they fell into a pit in the abandoned Kolar gold field mines, where they had gone to allegedly steal iron material early on Thursday, police said.

On Wednesday night, the trio had entered the gold mine in Kolar district, about 100 km from Bengaluru, and fell in the pit after losing balance.

After inhaling the poisonous gas in the pit, they were asphyxiated to death, they said.

"It was a seven hour exercise after which we could bring out two bodies. Work is on to retrieve the third," a police officer told .

Police reached the spot after they were alerted by the accomplices of the deceased.

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News Network
May 20,2020

Bengaluru, May 20: Karnataka State Road Transport Corporation (KSRTC) had to confront an unprecedented situation as there was a commotion at bus stands in various parts of the state due to the mad rush of passengers.

Deputy Chief Minister Laxman Savadi, who is in charge of the transport department, admitted that there were some shortcomings in the arrangements. He, however, was confident that things would improve from Wednesday.

As against the dearth of passengers in the bus stands in Bengaluru a day ago, Wednesday witnessed an overwhelming crowd blaming BMTC authorities for not providing enough buses for all the destinations on time.

Some of the employees who were asked to report to duty before certain time were facing difficulty in reaching the office in the absence of bus despite having daily pass and arriving at the stand well in advance.

Authorities were finding it difficult to convince the public as a bus could ferry only 35 passengers at a time which was way less than the demand.

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