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The Enforcement Directorate has secured the transit remand of IMA promoter Mansoor Khan in connection with a Ponzi Scam in Bengaluru.
The transit remand was granted by Duty Metropolitan Magistrate Harjit Singh Jaspal last night after Mansoor Khan was reportedly arrested by the ED Officials in New Delhi on July 19 after he arrived from Dubai.
The ponzi scam is being probed by a special investigation team (SIT) in Bengaluru.
Khan would be produced before the concerned Bangaluru Court today by the ED Officials who are likely to seek his custodial remand.
The case concerns over a lakh people, mostly Muslims, who had invested crores of money in companies run by Khan’s IMA Jewels. As per reports, the investment was to the tune of Rs 4,084 crore and Khan has to refund approximately Rs 1,400 crore to the investors.
A case was registered against Khan after several complaints were made against him. Following a probe by the SIT, Khan fled from India around one and a half months ago.
Till now, 22 people have been arrested in the case, including Khan, directors of the firm, Deputy Commissioner of Bengaluru Urban District Vijay Shankar and Assistant commissioner L C Nagaraj.