.jpg)
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
Naren please wake up from your dream.
Natasha alias nattu ..it works like baaydu maga maga ...banji du baga ...every powerful leaders are like that only .trump is also same ...nattu meaning na kelu nimma CD team hatra ...editor ge tulu baralla ...but staff knows well ...they will explain u ...silently we must finish what we have thought ...
In the end its all about power. Power insane.
Lol...Ban on Muslims was also a ' Chunaavi Jumla'?
Boothada Baayalli Bagavathgeethe!!
jihadis tried to block modi , they failed ... they tried their level best to block trump , they failed very badly ... islamic countries will have tough time dealing with US . Mr putin also hates islamic millitancy o the core . i got latest information from israel , israel govt banned public reckless screaming as it was annoying its citizen .. positive sign ...hahaha
ALLAH says in QURAN:
Say (O Muhammad pbuh) : O Allah! Possessor of the kingdom, You give the kingdom to whom you will, and You take the kingdom from whom you will, and You endue with honour whom you will and you humiliate whom you will. In your hand is the good. Verily, you are able to do all things...
Do people think without God's will Trump or Modi came to power.. NEVER. Allah will take care if the powers are misused ... People should know the QURAN mentioned of the tyrant ruler like Pharoah and his mightiest army... and how they were destroyed when mankind was oppressed by the arrogant leaders of that time..
He takes advice from jumla man???
Another jumla baazi.. Now this is really a burnol moment.
Add new comment