Belagavi: People from Bengaluru, Mysuru and other southern states got cheated by investing money in Bengaluru based I Monitory Advisory (IMA) association, also more than 300 people from Belagavi invested money in the association. Mohammed Mansoor Khan who has started the association has a Jewelry firm in the name of IMA apart from other investment collecting businesses. According to sources Mansoor Khan fled along with his family with the public invested money which is said to more than ₹1,250 crores, to UAE.
There is no financial or any other kind of “Return Interest” collecting business in Islam which the religion considers as Sin, however, unfortunately, the Islamic religious teachers said to be insisted Muslims invest money in IMA to get good returns.
Those investing money in IMA held a meeting at Anjuman Hall near the court and later submitted a memorandum to Police Commissioner.