Here are five companies from Bengaluru, founded by Muslims, that cheated its investors in the name of Halal investments
Bengaluru: With I Monetary Advisory (IMA) scam grabbing the headlines, people have been protesting in front of another chit fund company AIMMS Ventures at Jayanagar, Bengaluru, too.
As people have started speaking openly about financial cheats, many such incidents are coming to the fore with people filing complaints against the companies.
ALSO READ: IMA scam: Rebel Congress MLA Roshan Baig denies involvement; police form 4 teams to nab owner
Like other investment companies, IMA too lured its investors by telling them that it was Halal banking claiming that investing in the firm was not against religious principles. Here are five companies from Bengaluru, founded by Muslims, that cheated its investors hailing from the same community.
1) IMA
I Monetary Advisory company is accused of cheating people to the tune of more than Rs 2,000 crore in Bengaluru. More than 3,500 people have filed their complaint against the owner Mohammed Mansoor Khan, who is missing after releasing an audio clip, threatening to commit suicide. He has also said in the clip that he is tired of bribing the politicians and bureaucrats. His statement that Shivajinagar MLA had taken Rs 400 crore from him has put Congress leader Roshan Baig in bad light. The Karnataka legislator has refuted these claims. The state government has handed over the case to the SIT and the cops have formed teams to nab Mansoor Khan.
2) AIMMS Ventures
Investors had complained against AIMMS Ventures in the second half of last year, when they stopped receiving returns for the money invested. The company is alleged of cheating people to the tune of Rs 1,400 crore. After IMA scam broke out, investors of AIMMS came forth and started staging protests in front of its Jayanagar office. But the owners locked the office on Monday. Yet, people are seen protesting outside the office, despite it being shut.
3) Ambidant
Ambidant was started by Syed Ahmed Farid in 2017. The company had collected more than Rs 1,000 crore. It had an office at DJ Halli in Bengaluru. The firm is accused of cheating the people to the tune of Rs 600 crore. Former BJP leader Gali Janardhan Reddy was arrested for his alleged connection with Ambidant. Most of the investors in this company too were Muslims. The government has handed over the probe to the central crime branch (CCB), which has already submitted the charge sheet to the court. Investigation is on in this case.
4) Ajmera Chit Fund
After news of Ambidant scam surfaced, people who had invested in Ajmera chit fund company situated at Jayanagar in Bengaluru complained that the company cheated them in November last year. With complaints pouring in, the Karnataka government handed over the probe to the CCB. Accordingly the properties owned by the company in Bengaluru and Mysuru were sold and Rs 33 crore was seized. The directors of the company, Tabrez Pasha and Tabreulla Sharief were arrested by the CCB.
5) Burraqh
The Burraqh company from Bengaluru situated at DJ Halli had also cheated its investors to the tune of Rs 16 crore. The probe is being conducted by the CCB. Latest reports claim that the director of the company has fled abroad, without repaying the money to the investors, of whom most belong to the Muslim community.
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