IMA ponzi scam: Court extends Mansoor Khan’s judicial custody till Nov 22

Team Udayavani, Oct 24, 2019, 1:23 PM IST

Bengaluru: A city court on Wednesday, October 23 extended the Judicial custody of I Monetary Association (IMA) founder Mohammed Mansoor Khan with the CBI till November 22.

The Central Bureau of Investigation (CBI) had filed a supplementary charge-sheet on October 9 in a Bangalore court against two accused in ponzi scam pertaining to I-Monetary Advisory (IMA), which allegedly duped lakhs of people, especially Muslims, promising higher returns on their investments using Islamic methods.

The scam had triggered ripples in the Karnataka political circle when Mansoor Khan, the then managing director of I-Monetary Advisory (IMA) jewels, escaped the country leaving behind a video message that he was committing suicide because of “corruption in the state and central governments”.

He was arrested by the Enforcement Directorate on his return to Delhi on July 19.

The CBI had taken over the investigation on August 30 night on the request of the Karanataka government, routed through the Centre, the officials said.

In its first charge-sheet, the agency had named Mansoor Khan, and 19 other accused — seven company directors, five members, an auditor, a private person and five private group companies — for alleged criminal conspiracy, cheating among additional charges under the IPC.