Business Standard

Bengaluru: Congress MLA appears before SIT in connection with Ponzi scheme case


ANI General News
Congress MLA BZ Zameer Ahmed Khan on Wednesday appeared before SIT in connection with the IMA Ponzi scheme case.
The I Monetary Advisory (IMA) is embroiled in a case where the firm had allegedly cheated a large number of investors after promising them impressive returns on their deposits. The organisation is accused of duping a large number of investors, mainly, Muslims after promising impressive returns on their deposit.
IMA's founder Mansoor Khan had disappeared in June after sending an audio clip to some investors threatening to commit suicide due to what he alleged was 'harassment' by some politicians and goons. However, he was arrested upon his arrival in India from Dubai on July 19.
An 11-member SIT headed by DIG B R Ravikanthe Gowda is probing the alleged fraud by the firm.
Khan is facing investigation for allegedly duping 40,000 investors especially Muslims in the state. He had claimed that he gave Rs 400 crore to Congress leader Roshan Baig which he was not returning.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 31 2019 | 1:56 PM IST

Explore News