Bengaluru: The Karnataka police yesterday arrested seven directors of IMA Jewellers, which is currently reeling under a ponzi scheme fraud. During investigations they revealed that the firm’s owner Mohammed Mansoor Khan had convened a meeting a few days ago before he went missing and discussed investments in various locations of the firms.
They further said that they were unaware of the crisis and that Khan had asked them to take long leave for Ramzan.
Thousands of investors were left in the lurch after Khan absconded and demanded action against the owner and directors. The number of complaints registered were 26,000 on the third day of the news breaking out.
An audio clip in which Khan allegedly threatened to commit suicide went viral on the social media. He said that he was fed up with corruption and accused Shivajinagar Congress MLA Roshan Baig of taking Rs 400 crore from him and was not returning it. Following this, the State government announced that a 1-member SIT would be set up to nab Khan.
Meanwhile, Baig rubbished the Accusation. He alleged that his enemies had linked his name to tarnish his character. According to media reports, a white colour SUV belonging to Khan was found near a house of one of the directors. It was later brought under the custody of the police.
It has been reported that Ulemas and Moulavis of some mosques had vouched for IMA Jewellers and had made others to invest in the firm by assuring that the money would be safe and the investment was as per the Islamic guidelines.