Saturday, May 15, 2021
Home News Reports Five Karnataka police officers including 2 IPS officers booked by CBI in the Rs...

Five Karnataka police officers including 2 IPS officers booked by CBI in the Rs 4000 crore IMA halal investment scam

They are accused of favouring I Monetary Advisory (IMA) scamster Mansoor Khan in the ponzi scheme scam where more than 50000 people had lost their money.

Two Karnataka cadre IPS officers Hemanth Nimbalkar and Ajay Hilori along with three police personnel have been booked by the Central Bureau of Investigation in the Rs 4000 crore IMA scam. They are accused of favouring I Monetary Advisory (IMA) scamster Mansoor Khan in the ponzi scheme scam where more than 50000 people had lost their money.

A case was registered against the Karnataka Police officers after the state government granted approval to investigate the role of both the senior IPS officers. 1998 batch IPS Officer Hemanth Nibalkar is ACP (admin) of the Bengaluru city and Ajay Hilori, a 2008 batch IPS Officer is the Commandant in State reserve police.

The CBI has also booked Gowri Shankar ( sub-inspector with Karnataka Police), EB Sridhara (DSP of CID, Karnataka Police) and M Ramesh (then Inspector with Karnataka police). Apart from these police officials, the CBI also booked Mansoor Khan, chief of IMA and three other office bearers of IMA.

The IMA scam is one of the massive scams to rock the Karnataka state, around 50,000 investors lost their money in this scam. IMA Managing Director Mohammad Mansoor Khan had attracted investors, especially Muslims, by offering an investment scheme that appeared to follow Islamic precepts and provided lucrative returns.

The Special Investigation team affirmed that the investors are defrauded worth INR 4,000 crore. Mansoor khan fled India before the scam broke.

Read- IMA scam: IAS officer arrested on charges of receiving Rs 1.5 crore bribe from ‘halal’ investment group owner

The probe on the IMA scam was conducted under Hemanth Nibalkar. The report submitted by the probe team had given chit to the company stating that was based on the documents and evidence collected. They could not find any corroboration that can show that IMA cheated investors after they promised lucrative returns. The report also stated that the balance sheet of Mansoor Khan and Income Tax Returns of the country were verified.

The probe team led by Hemanth Nibalkar is alleged of deliberate inaction and providing favours to IMA during the investigation.

Puzzled by how a senior officer can give a clean chit to a controversial firm and after a warning by RBI, the state police have directed CID to investigate the matter.

In 2015, an activist had alerted police about the IMA, but he was turned down by the officials. In 2016, despite alerts by RBI the officers had closed the case giving a clean chit stating that the business is being conducted in the purview of the law. Mohammed Mansoor Khan, the main accused in the IMA Ponzi scam, also known as the Halal investment scam, was arrested by the Enforcement Directorate (ED) in New Delhi in July last year.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staff
Staff reporter at OpIndia

Related Articles

Trending now

The art of subtly shielding Jihadis: How NDTV plays with words to give impression that Kerala woman died due to Israel, not Palestine

NDTV subtly peddled an agenda trying to paint Israel as the aggressors and Palestine as the victim after a Indian woman died in terror attacks

Jerusalem conflict: The history of Al-Aqsa Mosque on Temple Mount and the holiest Jewish temple that preceded it

The Al-Aqsa Mosque and the Dome of the Rock was built on the same spot where the Second Temple of the Judaism was located

Journalists join hands with Congress trolls to spread propaganda against BJP over Delhi High Court ordered probe by police

Journalists blame BJP after Youth Congress president Srinivas B V questioned by Delhi Police on the orders of Delhi High Court

Read how RSS volunteers turned a defunct, British-era hospital, lying unused for over 2 decades, into a 200-bed COVID-19 facility

Volunteers of the Sangh Parivar, BJP and other organisations cleaned up the defunct KGF hospital in Karnataka to handle COVID-19 crisis

Massive Eid gatherings show the futility of lockdown during the second wave of the pandemic in India, it is time to lift them now

The Muslim community across the world is celebrating Eid ul-Fitr today. With it, the holy month of Ramadan comes to an end.

‘Delhi’s govt was just complaining, not trying to handle logistics of oxygen supply’: Director of INOX

Jain said that the central government's job is to inform these manufacturers to produce a certain amount of oxygen, which they did and made a chart for each state with specific volume allocation.

Recently Popular

Narcissism at its worse: After doubts were raised on the help being provided by Sonu Sood, actor gets called out for sharing cringe self-laudatory...

After making questionable claims on helping Covid-19 victims, Sonu Sood now shares cartoons that shows him as a God

Charlie Hebdo cartoon mocking Hindu deities for Covid-19 crisis turns out to be fake? Here’s what we know

Some social media users pointed out the hypocrisy of these 'left-liberals', who were just a few months back attacking the same French magazine for publishing cartoons that were allegedly hurtful for Muslims.

While Delhi govt was alleging inadequate oxygen supply, data show it was returning oxygen to suppliers, asked them to store the excess

Due to lack of storage plants and not enough demand, Delhi govt had returned oxygen and asked the suppliers to store them

Harry Potter author JK Rowling gives six-figure donation to pro-Khalistani outfit Khalsa Aid

The Harry Potter creator replied to Khalsa Aid's Tweet, thanking people for buying a copy of her latest children's book The Ickabog.

Israel used deceptions to lead Hamas and Islamic Jihad operatives into the tunnels in Gaza Strip before bombing them

Israel misled Hamas into believing that there will be ground attack, when the operatives went into the tunnels, IDF bombed them
- Advertisement -


Connect with us