IMA scam Over 26000 complaints for Rs 1250 crore will investors get

first_imgMohammed Mansoor Khan, MD and CEO of IMA groupfacebook [Representational Image]Over 26,000 complaints have now been filed against I Monetary Advisory (IMA) with the investors claiming that they have been cheated of Rs 1,250 crore. Though the police are collecting complaints against IMA, the depositors have still no clue about their invested money.As most of the people hail from common backgrounds and had invested hoping for a better future, they are uncertain of their lost money.Many of the investors have also refrained from registering a complaint as they do not have proper certificates or source of income to show the investment. But the main question bothering the depositors are how the government plans on getting their money back.IMA director Mohammed Mansoor Khan had claimed of having properties worth Rs 500 crore, diamonds, gold and Rs 400 crore which he gave to Shivajinagar MLA Roshan Baig and another Rs 5 crore given to BDA Kumar. In an audio clip, Khan had asked to sell his properties to return the money.Mansoor Khan has 14 properties registered under his name at several areas like Jayanagar, Benson Road, Park Road, Alexander Street, HBR Layout, St John’s Church Road, and IMA Towers at Lady Curzon Road. These properties are valued at Rs 500 crore as per the current market. It is also alleged that he has several properties under Benami names.The Special Investigation Team (SIT) has also recovered two high-end cars – a Range Rover and Jaguar – from Kempegowda International Airport in Bengaluru, which he had left at the parking lot on June 8 as he was fleeing from the country.But with all these assets combined, the chances are less that it would amount to the total investors’ money. If so, how does the government plan on returning the depositors money?last_img