New Delhi: The CBI has filed its first charge sheet against Mansoor Khan, the promoter of I-Monetary Advisory (IMA) jewels, within eight days of the probe for allegedly duping lakhs of people by promising them high returns using Islamic ways of investment, officials said on Monday. The charge sheet, which has listed 24 other accused, was filed before the Special CBI Court in Bengaluru on Saturday, they said.
Many of the country’s monetary agencies led by the Reserve Bank of India (RBI) often caution people against promises returns on investment that look too good to be true. But the greedy and the gullible are tempted to ignore such warnings. In one such case, about 40,000 Muslims suffered losses of Rs 2,000 crore in all. Enforcement Directorate (ED) arrested Mohammed Mansoor Khan, the main accused in the fraud, on 20 July.
On 8 August, a special investigation team probing the Ponzi scam involving the IMA group had seized 303 kg of fake gold bars under the swimming pool on the sixth floor of the group’s owner Mohammed Mansoor Khan in Bengaluru.
The agency did not respond to questions on how it completed the first stage of the mammoth investigation in eight days after taking over the probe from Karanataka police, which had set up a special investigation team to investigate the alleged financial fraud.
The officials said this was the first charge sheet in the case and the agency will file a supplementary charge sheet as the investigation progresses. It has kept the probe open in the matter, they said.
The CBI had taken over the investigation into the case on August 30 night on the request of the Karanataka government, routed through the Centre, they said.
Khan through his company IMA and its subsidiaries had allegedly duped over 1 lakh investors, mostly Muslims, promising high returns using Islamic ways of investment.
It is alleged touts and some religious preachers were also among those who lured people to invest in IMA, they said.
The case came to light when Khan fled to Dubai, leaving behind a video message, saying that he was committing suicide because of “corruption in the state and central governments”.
Khan was arrested on 21 July on his arrival in New Delhi by the Enforcement Directorate and is currently in judicial custody.
Before that, on 9 July, the Special Investigation Team probing the alleged IMA group ponzi scam had served a notice to Congress MLA Roshan Baig, asking him to appear before it hours after the Shivajinagar MLA resigned from the assembly. The lawmaker was earlier suspended from the Congress for his alleged anti-party activities. The SIT had issued five notices to Baig, but he never responded. The case is not in the hands of the Karnataka Police anymore, anyway.