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
March 16,2020

Kalaburagi, Mar 16: Kalaburagi Deputy Commissioner B Sharat has banned the sale of liquor and ordered the closure of bars and restaurants in the district until further orders in the wake of coronavirus scare.

On Sunday, Sharat said that the public gatherings including local markets, village fairs, Urs festival in Kalaburagi district have been banned.

"Gatherings including local markets, village fairs, Urs festival in the district have been banned as a precautionary measure against the coronavirus until further orders," Sharat said.

The Karnataka Health Department on Sunday said that all the family members and other contacts of the 76-year-old man who died of coronavirus in Kalaburagi are being monitored closely.

The state government has said that six cases of COVID-19 have been reported in the state as of now, including one person who died.

"Till date, six COVID-19 cases have been reported in the state including one death. The 5 Coronavirus positive cases are in isolation at the designated hospital in Bengaluru," the government said.

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coastaldigest.com news network
May 26,2020

Mangaluru, May 26: Days after the government of India approved the use of chartered flights for the repatriation of Indians stranded across the world amidst covid-19 lockdown, two NRI entrepreneurs in Saudi Arabia have offer to bear the cost of repatriation if they get formal green signal to repatriate stranded Indians from Dammam to Mangaluru International Airport before June 5.

Althaf Ullal and Basheer Sagar, the two Kannadiga Directors of Al Khobar-based Saqco, have made this offer in a letter written to Karnataka Chief Minister BS Yediyurappa and Union Civil Aviation Minister Hardeep Singh Puri.

The duo have assured that their company will bear the cost of the first chartered flight from Dammam to Mangaluru if the government paves way for its operation by June 5. 

It is learnt that many private airliners have come forward to operate chartered flight and are waiting for final clearance from the government. It will cost approximately Rs 45 lakh to hire chartered flight with 180 capacity from Dammam to Mangaluru. 

Pregnant women, medical emergency cases, senior citizens on visit visas, those who lost jobs due to lockdown among other stranded Indians will be given priority in this flight, they said.

"Our company will completely bear this cost. Passengers only need to bear the cost of institutional quarantine after reaching Mangaluru," they have clarified. 

Comments

i am from koda…
 - 
Friday, 29 May 2020

i am stuck in saudi arabia and waiting eagerly to reach karnataka as early as possible. I missed my sisters marriage this month 24th, and my marriage is on june 14th.... i have some health issue also... really want to go back as soon as possible. Please help me

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coastaldigest.com news network
May 19,2020

Mangaluru, May 19: With lockdown 4.0 coming into force, the Karnataka State Road Transport Corporation (KSRTC) started bus services from Mangaluru to various destinations today.

According to officials, buses started plying from Mangaluru to Bengaluru, Mysuru, Shivamogga, Hubballi and other areas with limited passengers. A bus, which left for Bengaluru from Mangaluru had less than 30 passengers on board.

“Depending on the demand, the buses will be operated with 50% of the capacity. Measures have been taken to ensure that social distancing norms are adhered to while purchasing tickets from the counter,” said S N Arun, KSRTC Divisional Controller.

However, the KSRTC is yet to take a decision on operating Nagarasarige buses in the city. 

“Only those destinations, which can be reached by 7 pm has been considered by the KSRTC while operating the buses. As a result, after 11 am, no buses will travel to Bengaluru from Mangaluru. Further, permission will not be accorded for the travelling of pregnant women, children below 10 years old and senior citizens above 60 years old. Thermal scanning is used for checking the temperature of the passengers before boarding the buses. All the buses are sanitised after each trip,” he said.

Further, he said the contact number, name and address of the passengers are collected by the officials during the travel.

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