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
July 29,2020

Bengaluru, Jul 29: The Karnataka High Court’s division bench of Chief Justice Abhay Oka and Justice H P Sandesh today rejected an application that wanted Amulya Leona’s case to be transferred from Karnataka Police to the National Investigation Agency (NIA).

The bench, while observing that extraordinary jurisdiction can’t be exercised for transferring the case to the NIA, asked “What is so special that investigation should be transferred to NIA?”

The court, in its previous hearing, had questioned the maintainability of the petition seeking transfer of the sedition case against Leona to the NIA.

According to the petitioner, advocate Pavana Chandra Shetty, the case is a serious matter against national integration and unity and has not been investigated properly by the police. The state police also failed to file the chargesheet within 90 days, he said, and also asked for cancellation of her bail.

The bench asked the petitioner as to how a bail, already granted to a person, can be cancelled. “Is it not the indefeasible right of the accused to be released on bail if chargesheet is not filed within stipulated time? How can you make a prayer for cancellation of bail?”  the Court asked.

The counsel for the petitioner also stated that in cases of a cognizable offence, when the chargesheet is purposely not filed within the stipulated time, the matter will have to transferred to the appropriate authority.

The court responded to his contention by asking him how could the court override law and cancel the bail. “Where is the question of cancellation of bail? Can we override the law and say that bail should be cancelled?” said the bench.

Advocate Vishal Raghu had filed the petition for transfer of Leona’s case, who was accused of raising pro-Pakistan slogans at an anti-CAA rally on February 20 at Freedom Park. The advocate had blamed the probe team for not filing a chargesheet on time and has asked the state government to approach the higher court against bail granted to Leona.

Bengaluru student Amulya Leona was charged with sedition for her actions in the presence of All India Majlis-e-Ittehad-ul-Muslimeen chief Asaduddin Owaisi. She was arrested by the Bengaluru police for allegedly shouting ‘Pakistan Zindabad’ slogans at an anti- CAA Protest in Bengaluru in February this year. On June 11, she was granted conditional bail by the Bengaluru civil court.

Her bail plea was earlier rejected by a Bengaluru court, after she had spent a three-month period in jail, stating that she may abscond if she is released. The sessions judge Vidhyadhar Shirahatti had also stated that if the petitioner is granted bail, she may abscond and may involve in similar offence which affects peace at large and hence her petition is liable to be rejected. The court had also noted that Amulya Leona is an influential person who may threaten and influence the witness and hamper the case in case of the prosecution and will abscond if released on bail.

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News Network
May 5,2020

Bengaluru, May 5: Karnataka Education Minister, S Suresh Kumar on Monday announced that the SSLC exams will be held as soon as possible, the officials have been asked to be prepared.

The guidelines have been given by the Primary Education Minister to all Deputy Directors of Education departments.

"Sanitisers, masks, screening, and all guidelines will be followed at exam halls," said Kumar in a statement.

Meanwhile, Karnataka has reported 651 COVID-19 positive cases so far, said State Health Department said on Monday.

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News Network
May 4,2020
Bengaluru, May 4: Karnataka Chief Minister BS Yediyurappa has said that the free bus service for migrant workers has been extended by two days in the state.
 
The service was supposed to end on Tuesday, but it has now been extended till Thursday.
 
The Chief Minister has appealed to workers and other people that they can return to their hometowns without having to gather in large numbers at bus stops.
 
He said, "951 KSRTC buses on Sunday were provided in the state for the travel of migrants. About 1,500 passengers have already gone in 50 busses."
 
On Saturday, an estimated 16,500 passengers in 550 buses left for their homes.
 
On Monday two trains will leave for Rajasthan and Bihar, the Chief Minister said.
 
He said in a press release that everyone will be provided with free meals and water before the journey.

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