Investor moves HC seeking CBI probe into IMA fraud

Investor moves HC seeking CBI probe into IMA fraud

The Karnataka High Court issued emergent notices to IMA group owner Mohammed Mansoor Khan and CBI (Bengaluru), while issuing notices to the state government and police, during a hearing of a petition, seeking CBI probe into the multi-crore fraud committed by the IMA group.

Petitioner Mohammed Sirajuddin, a Chitradurga resident, said he had invested Rs 10 lakh with the group under a monthly income plan and was also issued an I Monetary Advisory Investment Agreement.

He invested the amount based on the belief that the firm also had several companies as part of the IMA group of companies, which include IMA Jewellers, IMA Gold and IMA Advisory Private Limited among others.

On June 12, he came to know that the company’s Managing Director Mohammed Mansoor Khan was absconding and his whereabouts were not known. He also tried to contact him. But there was no response, the petitioner said.

The petitioner added, he came to Bengaluru on June 13 and lodged a complaint with the Commercial Street police for the offences of cheating and fraud. He also came to know that the office of the assistant commissioner, Bengaluru North sub-division, had issued a public notice on November 16, 2018, stating that the IMA and its group of companies are collecting money from the public and diverting the funds to its directors.

The petitioner further stated, “As several IPS officers, police officials and ministers of the government are shielding the firm’s managing director, he may not be able to get any justice.”

Therefore, the petitioner adds, that the central agencies need to investigate the fraud as the MD of the group may have left the country. The court adjourned the hearing to June 28.