ima scam

The Bharatiya Janata Party (BJP) has claimed that the IMA scam of Karnataka is similar to the Saradha chit fund scam of West Bengal, which looted crores of rupees deposited by its investors.

BJP MLA from Malleshwaram Dr Aswathnarayn CN said that IMA scam has done irreparable damage to the middle-class investors, mostly Muslims, in the name of 'Halal Income' and 'Islamic Banking' by its director Mohammed Mansoor Khan. It is feared that the size of the scam is about Rs 5,000 crore with more than 50,000 investors.

Khan, who is now absconding, has left thousands of investors in the lurch. He claimed that due to harassment by some politicians and rowdies, he had to flee the country. He has now released a video saying that he wants to return to India, pay back the investors and co-operate with the authorities. As the entire scam has broken out some shocking instances and details of the connivance of officials have come to the forefront. Sadly, the state govt is engaged in a massive cover-up and is in HIDE, SUPPRESS and FORGET MODE''.

BJP questions the state government of Karnataka

  • Why did the state government not act against the scam-hit I Monetary Advisory (IMA) despite warnings from the Reserve Bank of India (RBI) for a closer look into the company's activities?
  • To what extent did the government officials and politicians from the ruling govt help the IMA Founder Mansoor Khan to evade the law and flee the country?
  • It is clearly evident from the IMA founder's audio and video clips that a certain MLA, bureaucrats, officers and politicians were involved with Mansoor Khan and have blackmailed and extorted him. Why were no cases of extortion, suppression and falsification of evidence and conspiracy to avoid the detection of the crime not filed till date against these officials and politicians?
  • There are also media reports that several officers of the police and other departments took a bribe in the form of jewellery to protect Mansoor Khan from criminal investigation and prosecution. Why are these officers not been booked for "aiding and abetting the crime and for having participated in utilizing the crime proceeds"?
  • What is the role of Former Chief Minister of Karnataka in the IMA Scam? He was seen heaping praises on Mansoor Khan in public. The Former CM must clarify whether his patronage and power as a Chief Minister were used to protect Mansoor Khan to loot the investors?
  • Why was the Revenue department keen on giving a clean chit to IMA when it was in financial distress and Mansoor Khan was desperately trying to raise funds through a bank loan?
  • Why was the Karnataka Protection of Interest of Depositors in Financial Establishments Rules (KPID Act) not invoked though IMA was under RBI scanner and why did the govt let him flee the country?
  • Who is the IAS Officer in question who asked for a 10 Cr bribe for providing a NOC?
  • Why is the state govt hesitant to hand over the case to the Central Bureau of Investigation (CBI) when the accused Mansoor Khan himself is demanding it?

The State govt must answer the above questions in the interest of thousands of investors of IMA Scam who are seeking justice.

BJP demands a CBI probe into the IMA Scam:

As the ruling state government officials and politicians are involved in the IMA scam, there is little or no scope of a free and fair investigation. Not that the state police and Special Investigation Team (SIT) is incapable of handling the case. It would only make sense if a central agency with absolute power and reach handles a case of this magnitude. And, arresting Mansoor Khan from a foreign country requires extradition which would be best handled by a central agency under the central government.

"If the Congress-JDS coalition government is really serious about the rights of minorities, it must hand over the case to CBI for an impartial probe and investigation. I also urge the government to make public the names of officials and politicians who are hand-in-glove with Mansoor Khan of IMA who fled the country," said MLA Aswathnarayn.