IMA ponzhi scheme fraud: ED summons owner of firm

The Enforcement Directorate (ED) Thursday issued a summon to Mohammed Mansoor Khan, absconding owner of the city-based IMA jewels, which had allegedly duped over 30,000 investors by promising them impressive returns on their deposits.

The ED put up a notice at the firm's office asking the absconding Khan to appear before it on June 24 at 11 am.

The first summon was issued by the assistant director Basavaraj R Magdum.

This comes close on the heels of the Special Investigation Team seeking a red corner notice from Interpol.

The SIT had recently carried out searches on the premises of IMA Jewels and associated properties.

Khan went absconding after allegedly threatening to commit suicide in an audio clip.

He even accused Congress MLA Roshan Baig of taking Rs 400 crore from him and not returning it.

Baig has categorically rejected the charge, saying the issue surfaced because of his fallout with some of his political adversaries.

The Congress MLA had burst out against former Karnataka chief minister Siddaramaiah, Congress state president Dinesh Gundu Rao and Congress national general secretary and Karnataka in charge K C Venugopal.

Khan has reportedly fled to Dubai, leaving thousands of investors in the lurch.

Seven directors of the firm were apprehended on June 12.

Chief Minister H D Kumaraswamy had asserted his government would bring to book the perpetrators of the ponzi scheme fraud, irrespective of how influential they were.

People not only from Bengaluru and Karnataka, but also from Hyderabad, neighbouring Tamil Nadu and New Delhi have invested in the company.