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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
this is really foolish to give this kind of advertisement. Kanhaiya is getting free marketing out of fools like this. Very soon he will be famous & become politician too. When Aamir khan PK was released, some fools in Gujrath did marketing for PK movie by putting ban on the movie. This is also gonna be same. Already Kanhaiya is famous but the person who announced this money has given positive review towards JNU President. Now People all over India will know JNU president is Clean without any black mark on his career
Dear Randeep, you should read the news everyday it is officially declared that 60% RSS Goons are there in our Police force what more you can expect from them, it is clear that RSS and even BJP should be banned and we need a good government to rule the country not this fake, uncivilized and lyre BJP Govt.
A speech by Comrade Kanayya is revolutionary and praise worthy. Every Indian citizen must watch his speech in JNU campus. And his chat with Barkha Dutt, NDTV, unbelievable. His thought are very high for his age and his heart for the downtrodden, dalits, ST/SC/and minorities is praise worthy.
By announcing the reward for his killing or cutting his tongue clearly indicates Sangh Parivar and BJP's real intentions and their role in his sedition case.
Long live Kanayya,
RSS cannot stop people from speaking from their heart...independent India gave all its citizens right to speak, nobody can curtail that right from anyone....if they kill one Kanhaiya, there will be more of him born in India....it will be multiplying...how many they will kill...forget about 13 lakhs...13000000 crores will not be enough for it....
WE WANT AZAADI FROM RSS
WE WANT AZAADI FROM VHP
WE WANT AZAADI FROM ABVP
Ban RSS
What else to be expected from the Terrorists ???
Killing, Bloodshed, Riots, Rape threats to women, Disturbing Peace, Attacking religious places, Attacking lonely and even Old Aged, Harassing Innocent People .......... What not ?.
They have forgot that Death will not come to them ?
A Cheddi deception to put u in trouble just like Godse..
No one will get this money... Black money still on que
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