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Absconding founder of I Monetary Advisory (IMA) Jewels Mansoor Khan, who is accused of perpetrating financial fraud worth crores and fled to Dubai, was arrested by the Special Investigation team (SIT) on Friday, 19 July, reported Times of India.
The Enforcement Directorate (ED) has also procured a transit remand for Khan. He will be produced before a special Prevention of Money Laundering Act (PMLA) court in Bengaluru on Saturday, where the agency will seek his custodial remand, ANI reports said.
On 15 July, Khan released a video promising to return to India within 24 hours.
He promised to pay back the client's money with the help of the judiciary.
IMA has allegedly cheated a large number of investors, mainly Muslims, after promising impressive returns on their deposit. Khan had disappeared last month after sending an audio clip to some investors threatening to commit suicide due to what he alleged was 'harassment' by some politicians and goons.
Over 25,000 complaints have been filed against the IMA, demanding that people’s money be returned.
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