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 26,2020

Mumbai, Mar 26 : A 28-year-old man was arrested for allegedly killing his younger brother for stepping out of their home during the COVID-19 lockdown in the western suburb of Kandivali, police said on Thursday.Rajesh Laxmi Thakur killed his younger brother Durgesh after the latter stepped out of the house despite repeated warnings about the lockdown on Wednesday night, an official from Samta Nagar police station said.

The deceased, who was working in a private firm in Pune, had returned home following the coronavirus scare, he said.When Durgesh got back home after his outing, the accused and his wife shouted at him and a heated argument ensued, following which the accused attacked him with a sharp object, the official said.The victim was rushed to a nearby hospital where he was declared dead on arrival, he said, adding that a case of murder has been registered against the accused.

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coastaldigest.com news network
January 31,2020

Mangaluru, Jan 31: The Pumpwell flyover, part of the four-laning of Talapady-Kundapura stretch of National Highway 66, was finally inaugurated today.

Work on four-laning NH 66 between Talapady-Kundapur, excluding the Nanthoor-NITK Surathkal stretch, started in September 2010 and Pumpwell (Mahaveera Circle) flyover was a part of the project. Concessionnaire M/s Navayuga Udupi Tollway Pvt., Ltd., failed to execute many flyovers on the stretch within the prescribed time, including Thokkottu and Pumpwell in Mangaluru, Karavali Circle in Udupi, and Shasri Circle in Kundapur.

Thokkottu and Karavali Circle flyovers are complete now while Shastri Circle flyover as well as the four-lane road within Kundapur town are still incomplete. Similarly, a small bridge and portion of the road in Padubidri too is yet to be completed.

District in-charge minister Kota Srinivas Pojjary and MP Nalin Kumar Kateel inaugurated the long-pending Flyover

MLA Vedavayas Kamath, MLA Bharath Shetty were also present on the occasion.

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News Network
February 27,2020

Bengaluru, Feb 27: Chief minister BS Yediyurappa has again kindled hope for several ministerial aspirants by suggesting he will expand his council of ministers in April. A dozen senior BJP legislators are aspiring for ministerial berths, but there are only six vacancies in Yediyurappa’s cabinet.

However, Yediyurappa suggested on Tuesday he will fill only three spots, one of which would go to Hukkeri legislator Umesh Katti. With this, lobbying has intensified for the two remaining berths as the expansion exercise is expected soon after the budget session that ends on March 29.

The aspirants include Murugesh Nirani, S Angara, Appachhu Ranjan, SA Ramdas, Aravind Limbavali, Narasimha Nayak and GH Thippareddy besides others.

Yediyurappa, it is being said, is keen on inducting Katti and Limbavali since they are close to him. He will leave the decision on choosing legislators for the remaining two berths to the party’s central leadership.

On more than one occasion in the past, Yediyurappa has publicly stated that his wish is to induct Katti, a former minister, into the cabinet. In fact, the CM had wanted to induct Katti in the previous expansion that took place last month, but dropped the idea at the last minute due to pressure from party bosses.

The CM is also under pressure to induct Athani legislator Mahesh Kumatalli, who was among 17 Congress-JD(S) MLAs who resigned to help the saffron party form the government. Several BJP MLAs and Lingayat seers have been piling pressure on Yediyurappa to make Kumatalli a minister as promised.

Kumatalli was denied a cabinet berth only to accommodate Katti. Both are Lingayats and from Belagavi district. As the Lingayat community already has a lion’s share in cabinet berths, the CM cannot afford to induct both.

Nirani, who has been leaving no stone unturned to secure a spot, reiterated his wish to become minister, but insisted he will not lobby for the post.

Yediyurappa has been upset with Nirani for lobbying for a berth through Panchamasali Mutt seer Vachananand Swami. The former minister was also part of the team of alleged disgruntled MLAs which met Jagadish Shettar at his residence to put pressure on the CM for cabinet berths.

However, while expressing confidence of being made minister when Yediyurappa’s expands his cabinet next, Nirani said, “Yediyurappa is not upset with me. My relationship with him is that of father and son. He knows me and what I am.”

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