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Bengaluru, June 24: City-based I Monetary Advisory (IMA), which duped thousands of families, mostly Muslims, in the name of halal investment, has become a bitter reality of "we were robbed by our own people". All the accused except its CEO Mohammad Mansoor Khan have been released on bail in this ponzi scam worth thousands of crores of rupees.
The scam has not only been investigated by SIT and CBI, but it has reverberated many times in the Assembly, corridors of power, and in the courts.
Around 80,000 investors are in trouble after the Monetary Advisory (IMA) scam came to light. Many investors have left this world, many families have split, many marriages have broken down and many have become unemployed, homeless, helpless and hapless. One of the senior IAS office, who had faced arrest in the scam, reportedly killed himself just a day ago.
It has been more than a year since this multi-billion scam came to light. But the affected families still do not see any ray of hope. The government, led by senior IAS officer Harsh Gupta, has set up a special competent authority to address investor grievances in the matter.
According to information provided by Harsh Gupta, investors have to be paid Rs 2,900 crore. But the value of the company's assets seized so far could be around Rs 450 crore. The process of auctioning the assets has not started yet. The authority has developed an online portal for submission of claim forms from investors. But the process of taking applications has not started yet. Syed Gulab, a social worker overseeing the case, says that after all the claim forms have been submitted, we will get a clear picture about the exact number of investors and the total amount of arrears. But this process may take a few more months to complete.
Senior journalist Maqbool Ahmed Siraj says that IMA has systematically deceived people in the name of halal investment through capital scheme. In 2006, Muhammad Mansoor Khan, a one-time small businessman, set up a company. He began to attract large number of investors by creating the greed for more profit among middle class and poor people.
By 2015, the company had received money from more than 12,000 investors and continued to pay monthly profits. By the time the company closed in 2019, 80,000 people had invested their hard-earned money here. In Bengaluru, the company expanded its reach by investing in two major gold showrooms, hospitals, schools, several medical stores, a publishing center, a supermarket, and real estate firm.
Mr Siraj says that Mansoor Khan and his team not only lured the poor and middle class to pursue their own interests but also created a favourable atmosphere for their so called business by winning the hearts of politicians, government officials, clerics, religious institutions and media.
Unsuspecting people invested their money in a bid to make more profit in less time. When the company stopped making profits and Mansoor Khan suddenly fled on June 9, 2019, the investors woke up the to the reality.
Apart from residents of Bengaluru and other parts of Karnataka, people from Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra other states also have invested their money.
Comments
India , Pakistan fought any War for political reasons.. soldiers killed from both sides are victims of war... we can not say 'Pakistan killed Indian soldier kaur ' or 'India killed pakistani soldien Khan'... with that sense , what student Gurmehar said is sensible .. RSS educated people like Simha may not understand this ... by equating Dawood with Gurmehar , he indirectly honored dawood's position.
Pratap simha is hebbulli,,,,real simha,,,every student is wid simha,,,not this low life kaur,,,,she has made herself luk stupid,,,,simha roar...
Guys please ignore the comments of \ naren kotian, Singapore\" always negative comments on Muslim on a manner like children of primary school age.....
just do not entertainment.... \"Kesarigi Kallu Haakabedi\""
hahaha 6 comments out of which 5 comments from one particular community , this says all :) hahaha ..now after seeing this message , madrasa IT cell , will change name as rama , krishna , suresha , mangesha , kaamesha ,pumpesha , pottel raja etc and start posting comments .hahaha... azeeza i like it ilike it .burnol beka , ice mele andu itkondu kooru
Which POLICE men - those who take bribe each and every corner.
Don't COMPARE MARTYR's with POLICE MEN.
BJP IT Cell has set up sophisticated telephone exchanges to sell India's military secrets to Pakistan. One of their gang busted recently in Madhya Pradesh. Due to this many of our brave soldiers lost their lives under the present govt. Sanghis have been anti-Indian, anti-secular, anti-women fascist gang right from pre- independence till today. No wonder their opposition to this sister.
it was not the chaay wala who killed innocent Muslims, pregnant women and kids in Gujarat but his supporters
Naren Thoo kitha bhi bonko tera asliyath har bar niklega . jb thoo har bhar bhonkega
BJP member's caught providng information to ISI.....hi hi hi hi hi people won't forget
Modi picked himself is garbage and picked all garbage in his administration....
rightly said ... jihadists are taking democracy as an advantage and commiting henious acts against India . bholo bharath mata ki jai ... jai bjp , jai sangh parivar ,jihadists media are screaming and rallying behind this gal as she is supporting pakistan .
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