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
February 16,2020

Bengaluru, Feb 16: The Central Crime Branch has recovered blank firearms from Saddaguntepalya Police Station limits.

As of now, two persons have been arrested in this regard. They have been identified as Mohd Junaid and Mohd Tabrez. The officials have recovered 28 blank firearms and 76 blank bullets.

"The two accused -- without having any license -- were in possession of these huge number of weapons," Sandeep Patil, Joint CP, Crime, told media.

As per the preliminary investigation, there has been no record of such cases in Bengaluru. "But we are verifying if other states have any (such) case," added the Joint CP

According to investigations, it was noted that the weapons were purchased from Mumbai at an estimated cost of Rs 1 lakh per weapon.

Further investigation is currently underway.

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News Network
April 23,2020

Mangaluru, Apr 23: An astronomical phenomenon, ‘Zero Shadow Day', will be observed in Mangaluru on April 24 and in Udupi on April 25. 

According to a press release from Poornaprajna Amateur Astronomers’ Club, the wonder will commence and people will see their shadows disappear for a few moments at 12:28 pm.

The phenomenon is called as Zero Shadow Day. If a person takes a candle in a dark room and use it to create a shadow of one’s palm on the wall, the hand will cast shadow on the wall as one moves the hand. But when one places the palm on the wall, there will be no shadow.

In the phenomenon, the sun at these times shines exactly above the heads on these days. In astronomy, this point is called as Zenith. The point in the sky directly above an observer at any given location. So it is quite clear now that on Zero Shadow Day, the sun passes through the Zenith as a result of which, all objects will have minimal or no shadow if they are on the ground.

The reason for this happens on some specific days is concerned with astronomy. The earth spins around on its own axis and causes days and nights. It also revolves around the sun causing a year. But the seasons are caused because the axis is tilted at an angle of 23.5 degrees. It is because of this tilt that the sun rises every day in the east gradually moving towards the north till June 21st and then slowly proceeding towards the south till December 21st every year. “We call these days solstice. This means the sun shines between the Tropic of Cancer and Tropic of Capricorn every day passing by the equator on the days we call equinox,” the release stated.

As the earth moves around the sun and revolves on its own axis, for all the people between Tropic of Cancer and Tropic of Capricorn, the Sun at noon moves father and closer to the zenith passing through zenith twice causing two Zero Shadow Days per year. People at Mangaluru will observe this on April 24 and August 18 every year and People in Udupi will observe this on April 25 and August 17 every year.

Places with same latitudes will observe the same days of Zero Shadow but the time would vary with longitude. For example, people of Bengaluru as they share the latitude with Mangaluru will also observe it on April 24. While the people of Mangaluru will observe their shadows disappear at 12.28pm, people of Bengaluru will observe this at 12:17pm. Places like Moodabidri, Bantwal, Sakleshpur and Hassan will also observe Zero Shadow on April 24.

Places like Brahmavar, Karkala, Sringeri, Kudremukha, Chikkamagaluru will observe the Zero Shadow Day on the same day as Udupi on April 25.

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News Network
March 31,2020

Mar 30: the UAE Cabinet approved a series of new initiatives, foremost among which was the automatic extension of residence permits expiring from March 1.

The residence visas would be extended for a renewable period of three months without any fees to ease the economic impact of the Covid-19 crisis on residents, official news agency WAM reported.

The Cabinet has also waived the administrative fines associated with infractions on the services provided by the Federal Authority of Identity and Citizenship, starting April 1 and lasting for a renewable period of three months.

The initiatives also entail granting a temporary license to use digital solutions for remotely notarising and completing judicial transactions.

Government services expiring from March 1 will also be extended from April 1 for a renewable period of three months. The decision applies to all federal government services, including documents, permits, licenses and commercial registers.

The UAE has introduced a slew of initiatives to control the spread of the Covid-19 virus, including the online renewal of driving licences and vehicle’s registration cards.

The country’s telecom regulator, Telecommunications Regulatory Authority (TRA), also issued a directive that no mobile service with expired ID documents will be disconnected or suspended in the UAE.

The UAE has reported a total of 611 Covid-19 infections and five related deaths in the country.

A national sterilisation programme is underway that will continue until Saturday April 4, concluding on the morning of Sunday, April 5.

Carried out daily from 8pm until 6am the following morning, the programme will include the disinfection of private and public facilities.

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