On July 16, a protest was held by the victims of the I-Monetary Advisory (IMA) Ponzi scheme in Bengaluru. The investors who had put their money in the firm stated that that it’s been more than three years and no action has been taken yet. Even the minority MLAs are not providing any aid to the victims. One of the protesters stated that Congress MLA Rizwan Arshad has assured of providing them help.
“All the victims who have suffered losses and want their money back as soon as possible. Here in Karnataka, the minority MLAs are even not standing with us, no one is associated with us, only Rizwan Arshad has promised us that whatever help we need, he has promised to provide that. Let’s see how much power they have. I just request the Karnataka government that 3 to 4 years have passed since IMA has been shut down, we are all very upset. We are not able to fulfil our basic necessities,” said one of the protesters.
IMA Ponzi Scam Case
More than one lakh people had invested in the IMA Jewels which started 17 companies. IMA Founder Mansoor Khan invited people, mostly Muslims, to invest in five companies, said the Special Investigation Team (SIT), adding that Rs 4,084 crore was invested in the company. He has to refund approximately Rs 1,400 crore to his investors, the SIT said. Around one and half months ago, Khan had fled to Dubai leaving thousands of investors in the lurch. Khan had promised them that he would return to India and refund their…
