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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.
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Shobakka, how is Yeddi why you got married same person twice did you divorced after first marriage,
Uruda Madmaye,
Gattida Thammana avodu
Shimoga ties with Udupi. Vow. Why hiding the good news from the couple.
HAPPY MARRIED LIFE....
Dears,
don't think, if both are single, why not. But why in secret. Who can stop them.
Any way he is now son in law of D. Kannada.
So we have to arrange him a Thammana, chammana,
Government should not waste money by providing Z plus security to Mr. Padmanabah.. there is no benefit for common man even if yeddy get marry or not ? Its their personal life. Wishing good luck for yeddy and shoba.. happy married life..
Wishing you both Happiest Married Life.
Next Karnataka Cabinet, Lungi and Chaddi leading Karnataka Govt
Marriage is not a crime in our Hindustani tradition we have a perfect way of getting marriage system, That's in life one Time only what here Yeddi and Lunggi did Twice could you please clarify Master Viren ???
It is an open secret. I think few people still need confirmation.
Yeddy killed his wife to get marrried with shobha. Yeddy has the support from Swamis, because after getting married he supplies women to swamis.
Yeddy used to find with Nithyananda. If there was no women then they used to fulfill their desires. This is going on in Indian politics.
@Viren Kotian & Nihal
Marrying secretly is not a crime in India. but here suspicion arises over the death of former CM's wife!
After all why cant they stop drama ?
Anyway, happy married life.
Well said Mr Vieren Kotian. Let's take it positively.
Is marrying a crime in India? Well done Yeddy and Shobhakka. You have set an example of simple marriage. Let others follow this couple. Congrats :)
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