IMA scam: BJP MPs want probe into ‘terror funding’

Delegation met Union Finance Minister Nirmala Seetharaman in New Delhi

A delegation of newly elected BJP Members of Parliament from the State met Union Finance Minister Nirmala Seetharaman in New Delhi where they expressed fears of ‘terror funding’ in the I Monetary Advisory (IMA) Group scam in which over 50,000 investors across Karnataka were allegedly cheated of thousands of crores. They sought a CBI probe as “only Ministry of Home Affairs will be able to fathom this mystery”.

The delegation included Shobha Karandlaje, Tejasvi Surya, P.C. Mohan, Pratap Simha, G.M. Siddeshwara, and B.Y. Raghavendra. They submitted a two-page letter to Ms. Seetharaman alleging that the Special Investigation Team (SIT) probe by the State government was an ‘eyewash’ as ‘those in power are themselves suspected to have turned a blind eye in the past two years’.

However, the Union government cannot initiate a CBI probe unless the State government hands over the probe to the CBI or the courts refer the case to the agency. A PIL seeking a CBI probe is pending before the Karnataka High Court.

Murtaza Khan, a social activist, has written to Prime Minister Narendra Modi seeking justice for the cheated investors.

Raid on IMA offices

The SIT searched several premises of the IMA Group, including its headquarters at Shivajinagar. The search operation at the group’s Lady Curzon Road branch started early in the morning on Thursday and continued late into the night. The team seized 30 kg of gold, 2,600 carats of diamond and 450 kg of silver with an estimated value of ₹20 crore.

The police were seen leaving the IMA headquarters and jewellery showrooms in other parts of the city with several trunks of seized materials. While investigators are yet to quantify the recoveries, documents recovered included those from customers who had pledged properties to avail of loans from company founder Mohammed Mansoor Khan, said sources.

ED seeks custody of IMA directors

The Enforcement Directorate (ED), which has launched a parallel probe into the IMA scam, has sought the custody of the seven directors of IMA Group who had been arrested by the city police and are at present in the custody of the SIT.

It has also issued summons to Mohammed Mansoor Khan to appear either in person or through a representative on June 24.

The notice was pasted on the doors of the offices of IMA Group. The ED has also sought details of all bank accounts, I-T returns and a list of movable and immovable properties. Mansoor Khan is suspected to have fled to Dubai on June 8.

Tussle over VKO school

While students of the Government V.K. Obaidullah School at Shivajinagar, which had been adopted by IMA Group of Companies, were left in the lurch after the scam came to light, several elected representatives are fighting over which NGO or agency should step in to help the school.

On Thursday, Minister for Food and Civil Supplies and Wakf B.Z. Zameer Ahmed Khan, along with Congress leader Rizwan Arshad, had a meeting at the school and said that the Wakf board would take over the school.

However, sources pointed out that Shivajinagar MLA R. Roshan Baig was against the move and wanted to rope in non-governmental organisations for this purpose.

Meanwhile, a holiday has been declared for pre-primary classes owing to lack of teachers to conduct classes.

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