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 11,2020

Kalaburagi, Mar 11: A suspected coronavirus patient who had returned to Kalaburagi from Saudi Arabia on February 29 passed away today in hospital.

It is said he was admitted to the hospital on March 5 after he showed flu symptoms. But, the family members of the patient had shifted him to Hyderabad from GIMS on Tuesday against the advice of the doctors.

However, the district administration and District Health Officer (DHO) M A Jabbar are waiting for the final report of throat swab of the patient sent for lab test.

The DHO has directed Taluk Health Officer Sharanabasappa Kyatanal to supervise until the final rites of the suspect person were performed.

Kalaburagi Deputy Commissioner B Sharat said the patient died on Tuesday night on his way back to Kalaburagi after the doctor stated that chances of his survival was bleak. "It is still a suspected coronavirus case. We are waiting for the report," he said.

Sharat said he developed severe respiratory problem coupled with cough, cold and fever. "As he was 76-year-old, he failed to respond to the treatment. It is yet to be confirmed if the cause of death was coronavirus," he said.

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News Network
January 22,2020

Mysuru, Jan 22: Former Chief Minister Siddaramaiah here on Wednesday urged the state government to initiate an unbiased investigation into the Mangaluru airport bomb case.

Addressing media persons here, he said, “The incident has created panic among the public and such incidents are being repeated due to the failure of intelligence agencies of the state”.

On accused Aditya Rao, the suspect in the case, who surrendered before Bengaluru police on Wednesday morning, the senior Congress leader said, “I have not yet gathered complete information about the accused in the case, therefore I would not like to comment about him.”

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News Network
January 2,2020

Mysuru, Jan 2: Mysuru-based Karnataka State Open University is gearing up to offer courses online from this year onwards and a proposal in this connection will be placed before the University Grants Commission (UGC) this month, after approval from the board of management.

As of now, the university offers 31 courses, including undergraduate, postgraduate, and diploma programmes.

Vice-chancellor Vidyashankar S Said that the university will submit its proposal to the UGC soon.

“This is being done to make learning convenient and help students study their courses of choices from the comfort of their homes.”

After launching online admissions for courses, this is another step to go paperless and towards an e-campus, the V-C explained.

The university has also proposed to launch 12 new courses for 2020-21.

A proposal in this regard will be placed before the board for approval on Thursday and the same will be submitted to the UGC for its nod.

Prof. Vidyashankar said the these courses will be in addition to the 31 already available.

The new courses include LLM, MA in Education, BBA, BSc, BCA, diploma in Information Technology, postgraduate diploma in Information Technology, BSc in Information Technology, MSc in Information Technology, MSc in Botany, PG diploma in Banking and Insurance, MSc in Zoology, MA in Telugu, Executive MBA, and MSc in Food Sciences and Nutrition.

The new courses had been proposed based on students’ feedback and the trend.

The V-C said the admissions for the January cycle have begun and over 380 students had so far taken admissions online.

“We are hoping for good admissions this cycle and are expecting around 12,000 admissions,” he replied.

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