Shivajinagar - Latest News Update, Information, Photos & Videos on Shivajinagar at Lokmat Times

The Special Investigating Team (SIT), which is probing the alleged financial fraud by I Monetary Advisory (IMA) on Tuesday conducted searches at IMA's Tilak Nagar and Yashwantapur branches here.The agency seized 2.27 kg gold ornaments, 26.5 kg silver and cash worth Rs 83,26,000.Earlier, SIT raided the firm's branches in Shivajinagar and seized jewellery worth Rs 13 crore, some property documents and a pistol with bullets."Forty-one kilograms of jewellery worth Rs 13 crore, one pistol, and 50 bullets and property documents have been found in raids at IMA branches in Shivajinagar, Bengaluru. Four boxes of pledged jewellery have also been found. Raids are still underway," said Deputy Commissioner of Police S Girish, who is heading the SIT.IMA has allegedly cheated a large number of investors, mainly Muslims, after promising them impressive return on their deposits.The development comes two days after 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.( With inputs from ANI )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

ShivajinagarFOLLOW

Shivajinagar, Latest News

Politics :K'taka by-polls: Congress likely to field Dinesh Gundu Rao's wife from Shivajinagar constituency

Tabu Gundu Rao, the wife of Karnataka Pradesh Congress Committee (KPCC) president Dinesh Gundu Rao, is likely to be party's candidate from the Shivajinagar Assembly constituency for the upcoming by-polls in the state. ...

National :IMA jewels case: SIT conducts raids at IMA's two Bengaluru branches

The Special Investigating Team (SIT), which is probing the alleged financial fraud by I Monetary Advisory (IMA) on Tuesday conducted searches at IMA's Tilak Nagar and Yashwantapur branches here. ...