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
January 25,2020

Mangaluru, Jan 25: Orange vendor Harekala Hajabba, popularly known as 'Akshara Santha' (the saint of alphabets), who went on to build a school at Newpadpu village on the city’s outskirts in 1999 is among this year’s Padma Shri awardees.

When Hajabba received the call on being nominated for the award, he was standing in a queue to buy rations.

As he is not fluent in Hindi, Hajabba handed over the phone to an auto driver, who conveyed the news that the Padma Shri award will be conferred on him.

The unlettered achiever set up a primary school from his meagre savings of Rs 150 per day,  selling oranges in Mangaluru. 

“The first time I felt bad for being an illiterate was when a foreigner enquired about the price of oranges in English. I did not know what he meant. So, I decided to start a school in my village,” Hajabba had said during a felicitation programme.

When Hajabba decided to start a school, he did not get any support. He started the school with 28 children.

The school today has been upgraded to a composite high school and is catering to the educational needs of hundreds of children in and around Newpadpu.

He ran from pillar to post in the Zilla Panchayat to make his dream come true. All cash awards he had received went into building the school. The United Christians Association, moved by the sight of his dilapidated house, built a 760-square-foot house costing Rs 15 lakh for him. 

Hajabba’s life was prescribed for the syllabus of three universities - Davangere, Kuvempu and Mangalore. His success story is also included in a Tulu textbook.

He won the Karnataka Rajyotsava award in 2013, Real Heroes award from TV channel CNN-IBN.

Hajabba, when contacted, said he could not believe his ears when told about the award.

New dreams

The frail vendor, in his 60s, humbly declared that he could achieve all this because of the support of all. Hajabba now dreams of upgrading the school into a full-fledged PU college.

Comments

Meethal Kasaragod
 - 
Sunday, 26 Jan 2020

A big Salute to him!

Great effort,

fairman
 - 
Sunday, 26 Jan 2020

Where there is will, there is way

May God help him.

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News Network
March 26,2020

Bengaluru, Mar 26: In a second coronavirus related death in Karnataka, COVID-19 test results of a 75- year-old woman who had died on Wednesday has come out as positive, Medical Education Minister K Sudhakar said.

"I regret to inform that the COVID-19 test result has come out as positive for patient, who had succumbed to death yesterday. The govt stands committed to curb the spread of Corona Virus in the state. Please stay home, stay safe," Sudhakar tweeted on Thursday.

Health and Family Welfare Minister B Sriramulu too said the lab reports regarding the death on Wednesday have come and it has come out as positive, and death was due to COVID-19.

The exact cause of her death would be known only after the final report comes, both Minister had said on Wednesday.

The woman from Gauribidanur in Chikkaballapura district, had returned from Mecca in Saudi Arabia recently.

Sharing details about the woman, Sriramulu in a tweet on Wednesday had said, she died at Bowring hospital here at 1 am, and was suffering from diabetes, chest pain and hip fracture.

The patient was undergoing treatment in isolation ward at a hospital in Gauribidanur, later for more treatment she was shifted to Rajiv Gandhi Institute of Chest Diseases in Bengaluru, from where she was shifted to Bowring hospital on Tuesday," he had said.

This is the second coronavirus fatality in the state.

Earlier this month, a 76-year old Kalaburagi man died "due to co-morbidity and was also tested positive for COVID- 19", becoming the country's first coronavirus death.

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News Network
March 30,2020

Bengaluru, Mar 30: The coronavirus scare has taken a toll on the poultry industry in Karnataka with many poultry farm owners culling the birds, insiders in the poultry industry said.

At least one lakh birds have been culled in the last one week, the sources said.

Ever since the news spread about novel coronavirus spreading rapidly, the poultry industry started feeling the heat.

The lockdown spelt further trouble for the industry with reduced business compelling farm owners to go in for the culling.

According to Muddukrishna of C N Nischchith Enterprises, a live chicken dealer in Bengaluru, the culling had taken place in Shivamogga, Kolar and other places.

"There is a drastic decline in business. There are neither customers nor enough supply of birds for sale. We are badly hit. There are many poultry farm owners who have incurred tremendous loss due to the lockdown," Muddukrishna told news agency.

Another major poultry industry owner, having his farms in Channapatna, Ramanagar, Anekal and surrounding places, said he had to get rid of at least 4,000 birds in each of these farms.

"This is not restricted to me alone. There are about 64 major poultry industries who have gone for the drastic measure of culling," said the farm owner.

He said in the last one week, at least one lakh birds have been culled as it was hard for them to maintain them.

"Each bird needs at least a kilogram of grains in three days to eat whereas each kg of poultry food costs about Rs 32. We have about two lakh birds in our farm. How can we maintain if there is no business," rued the poultry farm owner.

The industry has suffered a double whammy.

People gave up eating chicken following rumours that the novel coronavirus COVID-19 is similar to SARS, another virus.

Further, the lockdown has blocked the transportation of these birds, he added.

According to the farm owner, in the last one month, he had suffered a loss of around Rs 15 lakh and if the situation continues for the next three months, his condition would be beyond imagination.

Muddukrishna said the poultry farm association had given a memorandum to the animal husbandry and fisheries department seeking direction on the transportation of these birds.

Accordingly, the secretary in the department of Animal Husbandry and Fisheries A B Ibrahim issued a circular to all the city police commissioners, deputy commissioners of the district, superintendent of police and the CEO of Zilla Panchayath on Friday that the animal husbandry services have been declared as essential services.

Ibrahim said in his circular that the production of chicken birds, sheep, goat, pigs, etc in the farm and their transportation, manufacturing feed, liquid nitrogen meant for veterinary use and other items related to the Animal Husbandry should be permitted.

"Despite the order, our vehicles are stopped and drivers are harassed," alleged Muddukrishna.

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