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 9,2020

Bengaluru, Feb 9: A man in Karnataka fled just before his wedding after his parents cancelled the ceremony over a disagreement about the saree that the bride wore duiring a ritual.

BN Raghukumar, who belonged to a village near Karnataka's Hassan town, did not to show up at his wedding, acting on the directions of his parents. The incident took place on Wednesday.

"We have registered a cheating case against Raghukumar. He is absconding," Hassan Superintendent of Police Srinivas Gowda told news agency. The police have also registered a case against the groom's parents.

Raghukumar and BR Sangeetha fell in love a year ago and decided to get married with the consent of their respective families.

However, Raghukumar's parents asked Sangeetha to change her saree during some rituals as they were not happy with its quality.

Following this dispute, the groom's parents cancelled the wedding scheduled on Thursday and directed their son to run away.

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News Network
May 27,2020

Kalaburgi, May 27: Karnataka's Kalaburgi district recorded a maximum temperature of 44 degrees Celsius on Tuesday, as per information provided by the India Meteorological Department (IMD).

In light of the increasing mercury levels, people here were seen consuming sugarcane juice and cold drinks to beat the heat. Animals and birds could also be seen searching for water for relief from the scorching sun.

Locals of the area requested the district administration to take necessary actions such as spraying water on roads, in order to bring down the temperatures.

"We are facing huge heat waves in this district from the past two days, and even the temperature is around 44 to 45 degrees on a daily basis. So, it is a very alarming situation in Kalaburgi. When we move around the city, we are unable to find water and fresh fruit juice, and even if fresh juice is available, we are afraid of getting infected by COVID-19," said one local.

"If we carry cold water, it gets warm within half an hour, and gets unfit for drinking, and it is tough for us. I request the district administration to look into this matter and do the needful such as spraying water on the roads, etc. for slightest relief," he added.

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coastaldigest.com web desk
July 15,2020

Bengaluru, July 15: The family members of a 67-year-old man, who had developed some symptoms of Covid-19, was in for a rude shock when a “reputed” private hospital in Bengaluru’s Whitefield quoted estimated bill of Rs 9.09 lakh for 10 days.

The elderly man was rushed to Columbia Asia Hospital even before receiving his covid-19 test report. But after a look at the estimated bill, the family chose not to admit him there.

The break-up of the estimated bill included Rs 1.40 lakh for ventilator, Rs 3 lakh for medicines, medical supplies and consumables, Rs 2 lakh for laboratory investigations, Rs 75,000 for room rent, Rs 75,000 towards professional fee, Rs 58,500 for nursing charges, Rs 35,000 for radiology investigations and physiotherapy, and Rs 25,000 for equipment and surgical items.

The hospital authorities reportedly told the family members that the actual bill could be higher in the event of complications, unanticipated extension of stay and comorbidities.

“He was tested on Sunday and we were waiting for the result. On Monday, he started gasping for breath. Columbia Asia Hospital told us they had an ICU bed and we rushed him to the emergency care. When they showed us the estimate, we were shocked,” said Abdul Bashir, a nephew of the patient.

“We then contacted Dr Taha Mateen of HBS Hospital through an NGO ‘Mercy Mission’. We got him admitted there for just Rs 25,000,” he said adding that Hospitals should not take advantage when emotions are running high. 

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