IMA Ponzi Scam: CBI files chargesheet against Mansoor Khan, 19 others

The Central Bureau of Investigation has filed a charge sheet against I-Monetary Advisory founder Mansoor Khan, seven of its directors, five members, one auditor and five companies in an alleged multi-crore ponzi scam case.

Bengaluru:The Central Bureau of Investigation (CBI) has filed a charge sheet against I-Monetary Advisory (IMA) founder Mansoor Khan and 19 others in an alleged multi-crore ponzi scam case.

The charge sheet was filed against IMA's director Khan, seven of its directors, five members, one auditor and five companies related to IMA group for cheating, criminal conspiracy and breach of trust under relevant sections of IPC in a court here on September 7.

The Karnataka government had transferred the case to the agency last month.

"After taking over the case, CBI has formed a 12-member Multi-Disciplinary Investigation Team (MDIT) comprising of its investigators who are being assisted by Chartered Accountants, Forensic Auditor, Computer Forensic Experts, and Bankers," the CBI said in a statement.

Khan's firm has been accused of duping thousands of people by promising high returns using Islamic ways of investment.

The scam came to light in June this year after the prime accused and IMA's Managing Director Khan fled the country, leaving behind a video message, in which he threatened to commit suicide due to alleged 'harassment' by some politicians and goons.

Last month, the Karnataka government had transferred the case to the agency.

Karnataka-based I-Monetary Advisory (IMA) firm is accused of duping thousands of people by promising high returns using Islamic ways of investment.

In July, Khan was arrested on his arrival from Dubai after a Special Investigation Team (SIT) probing the scam located and persuaded him to come to India and submit before the law. Following this, he was sent to the judicial custody.