IMA case: Nominated corporator held by SIT sent to police custody

S Mujahid, a nominated corporator who was arrested in connection with an alleged financial fraud case, was sent to police custody by a court on Sunday.

Bengaluru:Special Investigation Team (SIT) probing the IMA jewels scam on Sunday said that S Mujahid, a nominated corporator, who was arrested in connection with alleged financial fraud case on Sunday, was sent to police custody by a court.

Girish, Head of SIT, who was probing the case said, that the team has seized a car, two phones and several documents pertaining to IMA from Mujahid's possession.

"We arrested S Mujahid, a nominated corporator from his residence in Fraser Town in Bengaluru, today and seized from his possession a car, two phones and several documents pertaining to IMA. He was produced before a court and sent to police custody," Girish said.

IMA has allegedly cheated a large number of investors, mainly Muslims, after promising them impressive return on their deposits.

IMA founder Mansoor Khan, who is on the run, released a video urging police to arrange his return to India so that he could join the probe.

Khan, in a video released on YouTube, promised to fully cooperate in the investigation being conducted by the 11-member SIT and assured to return the investors' money by liquidating the company's assets.

He disappeared earlier this month after sending an audio clip to some investors threatening to commit suicide due to what he alleged was "harassment" by some politicians and goons.

The SIT had earlier conducted a raid at his office and seized jewellery worth Rs 20 crore. It had arrested the firm's auditor Iqbal Khan and seven directors of different entities linked to Khan.

The Enforcement Directorate (ED) had also issued summons to the IMA founder directing him to appear before the agency on June 24, but he failed to appear as he is believed to be in a foreign country.

Over 25,000 complaints have been filed against the company.