The trees I planted have paid me dividends in a different way: Thimmakka

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.

Indore, Jul 24: A woman who sells fruits on a cart and who lashed out at municipal officials here has done PhD in Materials Science. Her siblings too are well educated and sell fruits as they did not find jobs.

Dr Raisa Ansari, who lives at Bakery Street in Pardeshipura with her family said she wanted to be a scientist but did not get a job anywhere.

Speaking to media persons, Raisa said, "I have done PhD in Materials Science and wanted to be a scientist but did not get job anywhere. I sell fruit here but the municipal officials are bothering us. We are being forced to move from here to there like cattle. Our religion may be the reason why we are not getting jobs but we are proud to be Indian. I am still looking for a job."

Dr Raisa's mother Ayesha Ansari said she herself is not educated, but has four children of whom three girls and one boy studied a lot but no one got job.

Speaking to media persons Ayesha said, "I have four children and they are well educated. I have not studied but all my children are educated but did not get job so all of them sell fruits."

"When the matter came to marriage, one of the daughters got married. Raisa and Shahjahan Bi wanted an educated boy, but they were not able to find a suitable match because of their complexion and sometimes they rejected the proposal because of dowry, so both are single. Two of my grandchildren are studying biology. They will become doctors," said Ayesha.

Meanwhile, people in the neighbourhood lauded the family's abilities. They said theirs was an educated family had to sell fruits as they did not get jobs.

Bengaluru, May 27: Congress leader Siddaramaiah on Wednesday hit out at Chief Minister BS Yediyurappa-led Karnataka government for allegedly "betraying" the people by not fulfilling its Rs 1,610 crore COVID-19 package promise.

Taking a dig at Yediyurappa over the matter, the Congress leader tweeted, "Chief Minister of Karnataka BS Yediyurappa has betrayed people by not fulfilling his Rs 1,610 crore package promise. He seems to be following his @BJP4India leader @PMOIndia @narendramodi."

"Crisis and vulnerability should not be misused for political gains and BJP for India is insensitive towards the same," the former Karnataka Chief Minister said.

On May 6, Yediyurappa had urged migrant workers to stay back as construction activities have resumed and announced a Rs 1,610 crores COVID-19 financial package for the state.

"A package of Rs 1,610 crores will be released as COVID-19 financial relief. One time compensation of Rs 5,000 will be given to 2,30,000 barbers and 7,75,000 drivers," the Chief Minister said.

Referring to media reports, Siddarmiah cornered the state government for asking the licence to release funds for unorganised sector workers.

"How can we expect washermen and other unorganised sector workers to have licence for their work?" he asked.

It looks like Karnataka Chief Minister is very far from reality, he added.