Bengaluru: Multi-crore IMA scam mastermind Mohammed Mansoor Khan’s decision to move the high court against the attachment and auctioning of his assets has come as a shocker to thousands who were hopeful of getting their deposits back.
Coming at a time when nearly 6,800 of 69,000 depositors have got some money back following the intervention of special officer and competent authority (IMA and other KPID cases) Harsh Gupta, Khan’s move is likely to delay disbursements, say depositors. A special court recently ordered auction of all attached properties owned by the accused and distribution of the auction’s proceeds to the depositors. But Khan filed objections over the auctioning of his south Bengaluru property, which he claimed is unrelated to the case and is his personal asset.
Coming at a time when nearly 6,800 of 69,000 depositors have got some money back following the intervention of special officer and competent authority (IMA and other KPID cases) Harsh Gupta, Khan’s move is likely to delay disbursements, say depositors. A special court recently ordered auction of all attached properties owned by the accused and distribution of the auction’s proceeds to the depositors. But Khan filed objections over the auctioning of his south Bengaluru property, which he claimed is unrelated to the case and is his personal asset.
A group of victims of the financial fraud told TOI they are tired of waiting for their deposits. They said they would plead with Khan to withdraw his objections and help the authorities get on with the auction and distribution of proceeds.
“He has purchased the property using the victims’ funds. He raised objections in the special court too but when he was asked to prove that he had purchased his south Bengaluru property with sources unrelated to IMA, he failed to do so,” claimed NK Mohiddin, a depositor who lost about Rs 15 lakh to the Ponzi scheme. Mohiddin’s daughter’s marriage is on hold and his family is currently living on an overdraft account with a national bank.
Like him,…
