IMA-chit fund scam accused, Mansoor Kahn held by ED, being questioned
New Delhi, July.19 (HS): Owner of IMA jewels, Mohammed Mansoor Khan, has been apprehended at Indira Gandhi International Airport and is being questioned by the Enforcement Directorate team. An ED source informed this, today. Khan had earlier fled to Dubai when scam related to chit fund came to light.
A lookout circular was also issued against him by both SIT and ED and he would be handed over according to procedure, the SIT said.
As per informtion, more than one lakh people had invested in the IMA Jewels which started 17 companies. Khan invited people, mostly Muslims, to invest in five companies, said the SIT, adding that Rs 4,084 crore was invested in the company. He has to refund approximately Rs 1,400 crore to his investors, the SIT said.
Actually, Khan had promised his investors that he would return to India and would refund their money. Based on thousands of complaints, the SIT registered a case against him and others. It has so far arrested 22 people, including Khan, 12 directors of the firm, deputy commissioner of Bengaluru urban district Vijay Shankar, assistant commissioner L C Nagaraj, a Bangalore Development Authority officer, a nominated corporator of Bruhat Bengaluru Mahanagara Palike and a village accountant.
Before fleeing he had accused Shivajinagar Congress MLA R Roshan Baig of taking Rs 400 crore and not returning it. Baig categorically refuted the charge, terming it false and frivolous. The MLA who had rebelled against the party was suspended for anti-party activities. Baig then joined the bandwagon of rebel MLAs who resigned. The SIT had served him a notice to depose before it on July 15, but he sought time till July 26. The SIT then asked him to be present before it on July 19. The SIT released Baig and asked him to appear on July 19.
