In a fresh twist in the IMA ponzi scam investigation, the Karnataka Minister Zameer Ahmed Khan tainted a communal picture to the IMA ponzi scam.
The Congress leader playing the Muslim card said that he was being targeted by the government because he belongs to the minority community and dissed the allegations as a mere political vendetta
He said, "He is being targeted just because he is Muslim. They are highlighting me because I am Muslim. I didn't know that they would do this."
"BJP does not have any other issue. 11 Ministers have gone to jail, have you ever seen this anywhere," he added.
In what may be India’s first ever scam that centred on the misuse of religion, Republic TV carried out a deep investigation into the duping of over 38,000 investors by one man – founder of I Monetary Advisory (IMA) Mansoor Ahmed Khan - to uncover the unholy nexus between a national party and a murky ponzi scheme, including sensational documents and exclusive videos of politicians hailing the accused, Mansoor Khan, as the messiah of the poor.
Following the news break, taking cognisance of the incidence, the Enforcement Directorate took a stern action. Several immovable properties worth Rs. 197 crore of scam accused Mansoor Khan has been attached along with Rs. 98 lakhs from more than 50 bank accounts under Prevention of Money-Laundering Act, 2002.
The multi-crore IMA scam also raised questions for several of the heavyweights of Karnataka Congress to answer. B.Z. Zameer Ahmed Khan – the cabinet minister in Kumaraswamy government was one such leader who has been exposed by Republic TV's mega investigation. Serious questions arise about the Congress politics and Ponzi scheme nexus which has left thousands of investors in the lurch.
Documents accessed exclusively by Republic TV show a fiscal transaction between I Monetary Advisory (IMA) and Congress leader Zameer Ahmed Khan. In his election affidavit, Khan had mentioned that he received Rs. 5 crore in advance from IMA against a property deal with the company running the Ponzi scheme. The document reveals that Khan accepted money from IMA in relation to property in Bengaluru and all this while government agencies had put the company under the scanner.
Received Money despite being warned by KPCC
Obaidullah Sharief, Ex-Secretary, Karnataka Congress Pradesh Committee had raised concerns regarding the business model of IMA. He runs a newspaper and claims to have cautioned people regarding the dubious scheme. Though he himself received advertisements from IMA, what remains unanswered is the fact that these people were aware of the reality i.e. the investors being cheated. Was Mr Khan not aware while his own party members were crying foul?
Property Deal despite warnings by the agencies
IMA's business model was under the radar of the agencies who flagged the issue but it appears that the company was aided and abetted by the politicians in Karnataka.
Documents reveal that RBI had received inputs about IMA and as to how it was running an unauthorised deposit acceptance scheme, and in addition, how the company was targeting a particular community. The whole matter was examined by Police and Economic Offences Wing. While the company was being investigated. Khan chose to do deal with the company. Why?
Ignored the RBI letter and done a deal with IMA
While the agencies were busy finding the truth about the duplicitous nature of IMA's business, Congress leader Zameer Ahmed allegedly chose to have a property deal with the company. The RBI officials after visiting the office of IMA in Shivajinagar had clearly said that the company was collecting money from people under various unauthorised schemes. But Khan found only this company to do a business deal with. Why?
Who helped Mansoor flee?
How did Mansoor Khan leave the country when there was a serious case of suspicion against him? With this, multiple questions arise keeping a note of the fact that Khan's friends in the higher echelons of Karnataka Congress were seemingly doing every kind of business with him. Right from inaugurating IMA projects to selling properties, they had every connection. Moreover, there are pictures to prove that Mansoor had planned everything carefully. When the Karnataka SIT visited IMA Jewellery showrooms, they found that it had been carefully wiped. The showroom was cleared as if one didn't intend to do any business there. While Mansoor was carefully planning his exit, Congress leaders were allegedly enjoying IMA sponsored Mushairas and doing property deals.