IMA Ponzi Scam kingpin Mansoor Khan arrested

IMA Ponzi Scam kingpin Mansoor Khan arrested

Agency News

Enforcement Directorate(ED) officials have taken Mansoor Khan, the IMA Ponzi scam kingpin from Karnataka, into custody at Delhi on Friday. He was arrested soon after he landed in New Delhi from Dubai at about 1:50 am today.

The arrest was the result of a joint operation by two ED teams. Mansoor Khan, the owner of I Monetary Advisory (IMA), is accused of cheating thousands of investors who were offered investment options in keeping with Islamic laws and promised big returns. He fled India in June leaving investors in panic.

Earlier, Mansoor Khan’s allegation against former minister and rebel Congress MLA Roshan Baig of duping Rs.400 crore of IMA Ponzi scheme had kicked up a row. Closed on the heels of the allegation, Karnataka SIT have taken Roshan Baig into custody while he was about to fly from Bengaluru airport. Roshan Baig’s son approached Karnataka High Court against the illegal detention of Baig by SIT. Roshan Baig alleged that the arrest was part of a ‘political vendetta’.

The arrest of Mansoor Khan has gained political undertone during the unending political crisis in Karnataka.