IMA founder to stay in jail until October 14

Mohammed Mansoor Khan, the founder of the Ponzi company I Monetary Advisory (IMA), will remain in jail until October 14.

The Special Court for Prevention of Money Laundering Cases extended his judicial custody on Monday.

Khan is accused of duping around 50,000 people in the name of Halal investment. He had fled India on June 8, two days before his company wound up. The Special Investigation Team (SIT) lured him to return to India. He flew to Delhi on July 19 and was arrested upon his arrival.