IMA scam: ED to produce Mansoor Khan in court today

Team Udayavani, Jul 23, 2019, 12:46 PM IST

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Bengaluru: The prime accused in the multi-crore IMA ponzi scam, Mansoor Khan, will be produced to judicial custody on Tuesday by the Enforcement Directorate (ED).

Earlier on Sunday Khan was taken to Sri Jayadeva Institute of Cardiovascular Sciences for a check-up after he complained of chest pain and palpitations. However, his medical test was done on Monday at Victoria Hospital, Bengaluru.

On Saturday a special PMLA court here granted a three-day custody of Mohammed Mansoor Khan, the owner of IMA Jewels, to the Enforcement Directorate (ED) until July 23 in connection with a multi-crore-rupee Ponzi scheme case, in which thousands of investors have allegedly been cheated.

Khan, who had fled to Dubai, flew back to India and was arrested by ED officials after landing in New Delhi on Friday.

He was brought back to Bengaluru on Saturday and produced before a special Prevention of Money Laundering Act (PMLA) court, where the ED sought his custodial remand, officials said.

A lookout circular was issued against Khan by both the Special Investigation Team (SIT) and the ED.

The SIT had said its sources in Dubai persuaded Khan to come back and submit himself before the law.

Over one lakh people had invested in IMA Jewels, which had floated 17 companies, and Khan had invited people, mostly Muslims, to invest in five such firms.

A total amount of Rs 4,084 crore was invested in the company, the SIT had said, adding that Khan had to refund approximately Rs 1,400 crore to his investors.