IMA ponzi scam: ‘Social activist’ arrested in Bengaluru

Bengaluru: The Special Investigation Team (SIT) probing the IMA scam has arrested 42-year-old Umair Shariff who ran a school in Bengaluru on the lines of promoting the ponzi company in exchange for cash and a van.

Shariff propagated the scam in exchange for Rs 60 lakh in cash and an Ashok Leyland van worth Rs 15 lakh. Shariff has been sent to police custody till July 22.

Mansoor Khan, founder and managing director of IMA has also been arrested from New Delhi airport after he returned from Dubai.

IMA Jewels is embroiled in a case where the firm had allegedly cheated a large number of investors, mostly Muslims, after promising them impressive returns on their deposits.

Khan, promoter of IMA Jewels and prime accused in the multi-crore ponzi scheme case, is under investigation for duping 40,000 investors in the state. He had claimed that he paid Rs 400 crore to Congress MLA Roshan Baig which the latter was not returning.

Film on Siddaganga Mutt principles to make its way into Sandalwood soon
Video Icon
Tribal displacement finds place in Sandalwood with debutante Ninasam Manju's Kanneri
Video Icon
KISS: Title may be controversial, but the plot is all about a beautiful love story
Video Icon
Debutant director ropes in Raghavendra Rajkumar for political thriller WARD No 11
Video Icon
Mundina Nildana  travel-based thriller drama to hit screens in October
Video Icon
Sandalwood Saturdays: Sagutha Doora Dooora set to release in September taps on mother sentiment
Video Icon
Saturday Sandalwood: From Prabhas's love for Bengaluru to Mayuri's excitement to play a drug addict
Video Icon
Rana Vikrama's villain entering Bollywood to Raj B Shetty's Gubbi Mele Bhramastra
Video Icon
Newsable Exclusive: Power Star Puneet Rajkumar endorses Bollywood film Fauji Calling
Video Icon
Sandalwood actors' message for Indian Independence Day
Video Icon
Sandalwood Saturday Kurukshetra  Bollywood actor Sonu Sood cast get candid
Video Icon
North Karnataka floods: Kichcha Sudeep requests people to support victims
Video Icon
National award winner Sanchari Vijay to play psycho in next film? Watch Sandalwood Saturdays
Video Icon
Sandalwood Saturday: Women-centric film Mahira hits screens; debutants hope to connect with fans
Video Icon
iSmart Shankar success: Ram Gopal Varma showers Nabha Natesh with champagne; shares video on Twitter
Video Icon
Happy Birthday Shivarajkumar: Sandalwood superstar cuts cake in London post surgery
Video Icon
World of Nithyananda: From talking bulls, cows to monkeys with vocal cords
Video Icon
Kannada movie Devaki has nothing to do with Bollywood's Kahani: Priyanka Upendra
Video Icon