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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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coastaldigest.com news network
July 31,2020

Mangaluru, July 31: Coronavirus related deaths in Dakshina Kannada continued to surge, with the district administration recording five more fatalities in a day, thus taking the tally to 155.

The district has recorded multiple deaths every day from July 1 to 31. A majority of the deaths are due to comorbid conditions.

Among the five deaths reported today, a 47-year-old man from Mangaluru, was admitted to private hospital on July 30, and breathed his last on the same day. He was suffering from ARDS, Type 1 respiratory failure, COPD, Type II DM, HTN and died due to cardiac arrest.

Another patient was a 75-year-old man from Bantwal, who was admitted to a private hospital on July 23, and passed away on July 30. He was suffering from acute coronary syndrome, pneumonia (ARDS), metabolic encephalopathy, acute kidney injury, systemic hypertension, and type 2 diabetes mellitus.

The third patient was a 63-year-old man from Mangaluru, who was admitted to a private hospital on July 18, and passed away on July 30. He was suffering from ARDS, septic shock, renal failure, and secondary bacterial infection.

The fourth patient was an 88-year-old woman from Davanagere, who was admitted to a private hospital on July 9, and passed away on July 30. She was suffering from septic shock, and secondary bacterial infection.

The fifth patient was a 75-year-old man from Mangaluru. He was admitted to Wenlock hospital on July 15, and passed away on July 30. He was suffering from refractory ARDS, septic shock, renal failure, acute coronary event, arrhythmias, pulmonary thromboembolism, and hemoperitoneum.

The district administration said that though the above patients contracted coronavirus, the exact cause of their deaths is being investigated by a team of experts and their report is awaited.

On the other hand, Dakshina Kannada district recorded a total of 204 fresh cases, taking the tally to 5,713. Among the 204 new cases are 75 primary contacts, 63 with influenza-like illness (ILI), and 14 with severe acute respiratory illness (SARI). As many as 52 cases are under investigation. As many as 70 patients were discharged on Friday from Wenlock as well as private hospitals.

As per the district health bulletin, a total of 40,706 samples have been tested so far and 34,993 out of them have tested negative. Among the 5,713 positive cases reported in the district, only 2,929 are currently active. As many as 2,631 persons have recovered and been discharged.

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News Network
June 14,2020

Mangaluru, June 14: Private schools under the aegis of Association of English Medium Schools in Dakshina Kannada and Udupi urged the State government to reimburse the arrears of the fee related to admission of students under the Right to Education (RTE) Act.

Speaking to newsmen here on Sunday association president Y. Mohammed Beary said the State government has not cleared the arrears for the last two years. “The 400 private schools in two districts have to get around Rs 2 crore,” he said and added that the overall arrears that the government has to pay to schools in the State are around Rs1,200 crore.

Mr. Beary said arrears have made the school managements like his, who collect annual fees of about Rs 20,000 from a student, hard to function. Due to lockdown from March the schools could not conduct annual examinations and hence they could not collect pending fees from parents.

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News Network
June 18,2020

Bengaluru, Jun 18: As many as 210 new COVID-19 cases and 12 deaths have been reported in Karnataka, taking the total cases to 7,944 and death toll to 114, said State Health Department.

Today, 179 persons have been discharged across the State while 4,983 persons have been discharged so far.

The number of total active cases in Karnataka stands at 2,843.

The COVID-19 count in India has reached 3,66,946 on Thursday, according to the Union Health and Family Welfare Ministry (MoHFW).

The death toll due to COVID-19 has now reached 12,237. The COVID-19 count includes 1,60,384 active cases, while 1,94,325 patients have been cured and discharged or migrated so far.

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