Ponzi scheme fraud: SIT seizes revolver, bullets from IMA office

Bengaluru: Days after IMA owner Mohammed Mansoor Khan, in a video clip, offered to surrender before police and reveal big names involved in the firm’s downfall and feared they would kill him, the Special Investigation Team (SIT) on Monday seized a revolver, 58 bullets and jewellery, including gold and diamonds.

The seized items included 41.62 kg gold, 72.64 kg silver and Rs 13.45 lakh in cash, a 15.4 carat diamond and 60 carats of precious gems at Shivajinar.

Tilaknagar and Yashwanthpur offices were also searched yesterday. The details of the searches are yet to be revealed.

Khan has allegedly fled to Dubai. The 500-crore scam gained nationwide attention as people of Hyderabad, Tamilnadu and New Delhi, apart from Bengaluru and Karnatakahad invested in the company. It has left more than 40,000 investors in the lurch.