Bengaluru: A Special Investigation Team (SIT) probing a jewel case against the I Monetary Advisory (IMA), raided their office in Karnataka on Tuesday and recovered currency notes, jewellery and a pistol.
According to reports, the officials of SIT recovered 41 kilograms of jewellery, one pistol and around 50 bullets.
The raid was carried out at IMA Gold office in Shivajinagar.
The SIT is investigating the ponzi scam allegedly run by IMA founder Mansoor Khan.
The I Monetary Advisory (IMA) jewels allegedly cheated around 25,000 people across Karnataka amounting to the fraud of more than Rs 1230 crores. According to police, IMA was providing interest up to 8 to 10% on the investments made. As of now 21,000 complaints has been registered.
The Enforcement Directorate had filed a case of money laundering in an alleged ponzi scheme in Karnataka, involving the IMA Jewels, which left thousands of gullible investors in the lurch.
Read: IMA jewels absconding founder urges Bengaluru police to facilitate his return
