IMA scam: SIT seizes Rs 20 crore worth gold, diamond, silver from jewellery store in Bengaluru
The SIT searched the IMA jewellery store situated on Lady Curzon Road in Shivajinagar, Bengaluru. The materials in the lockers worth nearly Rs 20 crore were seized.
Bengaluru: The Special Investigation Team (SIT) has seized diamond, gold and silver from I Monetary Advisory (IMA) company. The investigation team obtained the permission of the Karnataka high court to search and seize the properties belonging to IMA owner Mohammed Mansoor Khan.
Accordingly, the team searched the IMA jewellery store situated on Lady Curzon Road in Shivajinagar, Bengaluru. The materials in the lockers were removed and seized.
The cops of the team have seized Rs 8.5 crore worth gold weighing 30 kg, Rs 9.5 crore worth 2627 carat diamond and Rs 2 crore worth silver ornaments weighing 450 kg.
Totally, Rs 20 crore worth ornaments have been seized after the search.
Apart from this, five directors of IMA have been detained and have been handed over to the police for further questioning.
Shadab Ahmed, 28, Israr Ahmed, 32, Fuzail Ahmed, 30, Mohammed Idris, 30, Usman Abrez, 33, have been arrested.
The police have so far arrested 13 persons with regard to the alleged IMA scam.
The owner of IMA is still missing and the number of people, who have filed complaints against the company, has crossed 40,000.