IMA Scam: Cash, movable assets of firm impounded

Team Udayavani, Aug 27, 2019, 11:50 AM IST

Bengaluru: Movable assets valued at over two crore rupees belonging to the fraudulent IMA firm was impounded by the special investigation team (SIT) probing the multi-crore IMA ponzi scam.

Joint raids were conducted in the Jayanagar, Yashwanthpur, Shivajinagar and Tilaknagar branches of IMA and IMA Publishers Private Ltd office in the city by a team lead by the regional commissioner and the SIT officials and unearthed cash of Rs 2.20 crore besides the movable assets.

It is said that main accused in the case, Mansoor Khan, had entered into an understanding with Abdul Sabir for construction of skywalk and had collected two crore rupees from Khan for this purpose. The police took Abdul Sabir into custody where he confessed to having received the money.  This money was put into the account of the registrar of city civil court, Bengaluru by way of demand draft.