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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
who knows with immense pressure from policticans he might have been framed ..becoz ruling party needs one particular community votes and we know how murders of prashanth poojari and vaman poojari ( witness in murder ) got closed .vaman poojaris death shown as suicide .prashanth poojari murder cases all accused are getting acquitted .one jihadi who shouted islamic war cry while butchering our prashant poojari was standing next to abhaya chandra jain ... so conspiracy theory cannot be ruled out ... ankit is just accused and he is not proven guilty , so let our court decide who is culprit ... we dont talk in rubbish language like hang him , shoot him ... as we are not living in third rated countries , which asks proof from males if rape has hapened ...such a pathetic rules ...long live sangh parivar ... jaio sri ram
Narianna....are you not aware that the bloody goon has admitted his criminal deeds... Are u still in the influence of snake food ??? ....
If he comes out within 10 days, I will be not surprised, since we know the DNA of Indians .... as it happened in the case of Sadvi and Akshamdam cases....
I dont think he has stabbed ..if proved , let him be punished for murder ... but certainly not for silly silly cases ...
comment #16 , first ninna community members ge lecture kodu mama ... no need to advise billawa leaders ... third rated kelasa maaadtha irodu nimma jana maarre ... Mr Kazi , we are not living in third rated country to hang anyone without trial and he has not done any major mistake ... anyways he will come out within 10 days ...love to see many one particular community guys using hindu names and posting their frustration .:) hahaha ...
before punishing this culprit, find which VHP criminal is behind this idiot fellow and put him in the jail forever
These Billava boys are brain washed by RSS leaders. Why can't they brain wash their own children for such criminal act? No they will send their children to abroad for higher studies and for job.
Billava leaders must open their mind and guide their youngsters the real motto of these RSS leaders and keep them away from their bhakthi. etc.
baddy maga, i am waiting for him to get in case like this, he s flying all the time in our colony, police should break his leg again he should not enter our place.
Viren, right is right and wrong is wrong....where is the proof for your allegation against minorities....totally rubbish.....This criminal has been thought to do this by Sanghis to promote communal disharmony around.....
Good job police, specially the mosque for installing CCTV camera, otherwise this criminal would have went scott free. Give him harshest punishment so that others should learn good lesson from it....
Viren ..........No killing justfied .....as far as Nationalism concern no one need your Help...thay all know who you are and your dirty RSS and its wings....so keep your Brahmanism with you at home ....we all know who killed RTI Activists that too being a HINDU....OK ...adella OK neevu ee deshadalli dwesha YAKE ...saaka ?
Elli Nyaya illavo allide ....karya...
send him out of india, hang him to death,,,very dangerous people....
lets pray for his family, god bless u all.
this is a serious issue, should consider him as a main suspect of all the crime and should investigate properly all the goons should be caught and punished properly, my big suggestion is to cut the legs of these type of goons and let them sit on streets for begging,
Very Sad news rickshaw driver, \let his soul rest in peace\" but killing in Hindustan, stone pelting in Hindustan all these doing are really condemnable, but this Criminal does not look like Poojary Family definitely I belong too but his Nature his body language looks like \"Cross Breed\" you readers must have understood that means must Illegal!!!!!!! so you Understand our Local language says for that type of Goons, he never ever can become a good Human, if you punish or put in Jail whatever you do Tail of \"DOG\" can never become straight
Jai hoo Modianna"
guilty must be punished.
Every crime is condemnable. but, we all know that you are a nationalist. If compared to the crime of those who back stab our motherland what u did is nothing.
totally Brain washed by the RSS goons.
lets kill this dog in street by stone.
Should be put on Lie detector, to get the details of his masters / brain washers / supporters .... Afterwords should be hanged in a public place .... as a lesson for the other goons of the coastal districts ...
hang him to death, these type of creatures are creating trouble to the society.
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