Bengaluru: The Special Investigation Team (SIT) constituted to inquire into the alleged over Rs. 4,000 crore fraud by I Monetary Advisory (IMA) Jewels, has flown to Dubai to nab the main culprit Mohammed Mansoor Khan who is reportedly hiding in the Gulf city. According to SIT sources, the investigating team has located the whereabouts of Khan in Dubai.
The investigating team has sought the co-operation of UAE authorities to nab the culprit and bring him back to India. A blue-corner notice has also been issued against Khan and his passport has been cancelled.
According to official sources, Khan fled to Dubai after shutting down his businesses in Bengaluru on June 8 cheating over 40,000 investors who had deposited gold and money in his firm. The Enforcement Directorate (ED) which is also investigating into the IMA fraud has already attached over Rs. 290 crore worth properties belonging to Khan.
Khan, in a You-tube message recently, had expressed his desire to return to India and co-operate with the investigating authorities on the case, if ensured safety to him and his family members.
He had also assured to return the money invested. The State Police had received over 40,000 complaints, against Khan.
Meanwhile, in continuation of raids on the scam-hit IMA, the SIT raided IMA’s perfume showroom and medical store. The SIT sleuths raided Rayan, the perfume outlet on Coles Road and seized goods, including perfumes and readymade garments, worth Rs 15 lakh.
Another SIT team raided the Frontline Pharma store on MM Road in Pulakeshi Nagar. It is one of many medical stores IMA had opened across Bengaluru.
The team recovered medicines and electronic equipment worth Rs. 1 crore from the store. The SIT is expected to continue its raids on other Frontline Pharma stores as part of the investigation.