Advocate prevents investors from being victims of IMA fraud case

News Karnataka

Advocate prevents investors from being victims of IMA fraud case

Advocate prevents investors from being victims of IMA fraud case

SC VC   ¦    Jun 12, 2019 06:50:51 PM (IST)

Advocate prevents investors from being victims of IMA fraud case-1Bengaluru: The IMA jewellery scam, in which thousands of investors have lost all their money, has been making news all over, during the past few days. Thousands of investors who have been cheated are storming the police station to file their complaints against the company. However, 30 investors who withdrew their investment from IMA Jewels just a month ago, are very grateful to their lawyer, who had cautioned them of a possible fraud from the company. He had persuaded these investors to withdraw their money.

Reportedly, advocate Muzamil Mushtaq Shah, who has filed Public Interest Litigations (PILs) against several companies including IMA Jewels, has said that he had anticipated that Mohammed Mansoor Khan would cheat his investors and abscond.

"I had submitted a PIL to the Chief Justice of the High Court, against IMA in February. The HC heard the PIL on April 10 and directed the police department to submit a detailed report regarding the matter. However, the police neither submitted any report nor did they take any action. It is explained in the PIL how the fraud was being committed and we also submitted a report to the Home Minister and the Director General of Police," said Muzamil Mushtaq Shah.

"Realising that there could be the involvement of politicians and other influential people in the fraud case, as the police did not take any action, me and 20 of my relatives withdrew our investment from IMA," said one of the investors.

Special Investigation Team to probe IMA Scam

Chief Minister H D Kumaraswamy, on Wednesday, June 12, stated that a Special Investigation Team (SIT) led by DIG B R Ravikanthe Gowda, to probe into the IMA scam. HDK has tweeted that a 10-member team is formed to nvestigate the case and B R Ravikanthe Gowda, who is currently serving as the DIG of Fire Department, is appointed as the head of the investigating team.