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.
“I am not keeping well. I need to get a cardiac operation immediately. There are three blockages that have to be operated upon. The major problem is that I cannot afford the medical expenditure here. With the blessings of Allah, I will come to India in another 24 hours on my own will. I have all trust in the Indian judiciary.”Mansoor Khan in a video
He promised to pay back the client's money with the help of the judiciary.
“I will give all the details and documents regarding the movable and non-movable assets and people who have taken the bribe. We can recover with the help of judiciary. If we liquidate the assets, we can repay the money to the clients,” he said.
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.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)