No protection for small depositors if jeweller defaults on gold schemes
“Investors have no protection in these gold schemes if a company goes into liquidation. The deposit is usually a small amount, below Rs 1 lakh. That would not fall under the Insolvency Bankruptcy Code. It will be treated only as unsecured credit."
Banking on faith: How thousands of people lost their life savings in IMA Jewels scam
The RBI had sounded a warning about IMA in 2016 for coll...
ED summons Karnataka minister Zameer Ahmed Khan in IMA Jewels scam
ED officials waited for hours outside the residence of the minister to han...
Police seize electronic evidence in IMA case
About 50 employees of IMA Jewels approached the police commissioner to request the release of their original certificates, that are apparently in the custody of the company.
IMA Jewels scam: Ready to return and cooperate, says founder Mansoor Khan in video
I Monetary Advisory (IMA) Jewels founder Mansoor Khan, who is accused of perpetrating financial fraud worth crores, released a video on Sund...
ED summons IMA proprietor Mansoor Khan
ED has displayed the copy of the summons at properties owned by Khan. Summons have been issued under the Prevention of Money-Laundering Act, 2002.
How tens of thousands of people lost their hard-earned savings in IMA Jewels scam
IMA invited customers to invest money in multiples of Rs 50,000. They were promised monthly returns of 2-3%.
Bengaluru government forms SIT as 20k people complain against IMA
Police said IMA Group managing director Mohammed Mansoor Khan may have fled the country and gone to Dubai.
Bengaluru: IMA Jewels' investors stage protest after founder Mansoor Khan went ‘missing’
Investors of IMA Jewels staged protest outside its office in Karnataka’s Bengaluru on Tuesday. They staged the protest after they received a...
IMA ponzi scam: SIT asks suspended Congress MLA to appear before it
Baig, an MLA who represents Shivajinagar assembly segment, has been suspended from the party for indiscipline.
IMA founder Mohammed Mansoor Khan has a penchant for video messages
One such video published on YouTube seven months ago has Khan warning officials and the public against spreading rumours about his business.
IMA Ponzi scheme: Main accused remanded to ED custody till July 23
Khan, who had fled to Dubai, flew back to India and was arrested by ED officials after landing in New Delhi on Friday.
IMA SCAM: Police tight lipped on Mansoor Khan’s plea for assistance to return
Top cop says he’ll be dealt with as per law if he comes back; SIT continues searches.
ED files money laundering case in alleged K'taka ponzi scheme
The ED has taken cognisance of the complaint registered by the Karnataka police and the subsequent creation of a special investigation team (SIT) to probe the alleged fraud, the officials said.
K'taka to bring in law that lets cops attach scam-tainted property
State’s home minister MB Patil said an amendment to the Criminal Law Amendment Act, 1944, would be introduced by the govt in the next session of the Legislature.
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