Police sources reportedly said that BBMP corporator Syed Mujahid was involved in financial transactions with the I Monetary Advisory Group founder and managing director Mohammad Mansoor Khan
Bengaluru: Bruhat Bengaluru Mahanagara Palike’s (BBMP) nominated councillor Syed Mujahid has been arrested by the Special Investigation Team (SIT) in relation to the I Monetary Advisory (IMA) Group investment scam. He was arrested from his house in Bengaluru’s Pulakeshi Nagar on Sunday (June 30).
According to reports, police sources said that the corporator was involved in financial transactions with the IMA Group founder and managing director Mohammad Mansoor Khan, who fled the country for Dubai on June 8.
A senior police officer reportedly said that they recovered an SUV, two mobile phones and several documents pertaining to IMA Group of companies from his house. The SIT team that searched Mujahid’s house, questioned him for hours before formally arresting him.
Mujahid allegedly said that he was planning to flee to Dubai as he had come under the SIT scanner regarding in relation to the IMA scam. The police officer reportedly said that he had gone into hiding shortly after the investment scam had come to light. The investigation team nabbed him when he had come back to his house to meet his family after almost two weeks.
Mujahid had put out a video on YouTube on the second week of June claiming that he had met Mansoor at Bengaluru’s Kempegowda International Airport (KIA) on June 8 while the latter was fleeing the country. In the video, he also stated that he had knowledge of Mansoor Khan’s business activities and that he had invested money in the company.
Mujahid will remain in police custody for 15 days.
A SIT officer reportedly stated that the investigation team has identified 101 bank accounts in relation to IMA Group. The money totalled to Rs 1.16 crore. The team has frozen these accounts for further investigation.
Mansoor’s IMA Group is accused of cheating more than 50,000 investors. The Enforcement Directorate (ED) is investigating the case along with SIT.
Last Updated 1, Jul 2019, 1:12 PM