In the video, IMA owner Mansoor Khan says his was a true business that ran for 13 years, and not a ponzi scheme, and claimed a conspiracy to make IMA go bankrupt.

IMA scam Mansoor Khan releases new video promises to return to India with names
news Scam Sunday, June 23, 2019 - 19:27

Founder of I Monetary Advisory (IMA), Mohammed Mansoor Khan, who has been accused of cheating 40,000 investors to the tune of Rs 2,000 crore, has now released a video from an undisclosed location, promising to return to India and expose several powerful people, including politicians and an IAS officer. Mansoor Khan fled India around June 13, and investigators believe he is in hiding in Dubai. In his video, however, Mansoor Khan claims he left the country because there were threats to his life and the lives of his family members. Addressing Alok Kumar, the newly appointed Police Commissioner of Bengaluru, Mansoor says he’s willing to come back to India and cooperate with the investigation.

Mansoor has been accused of running a ponzi scheme – where money is rotated from new investors to older investors – in the name of IMA. However, in his video released on Sunday, he claims his was a ‘true business’ which has been made to go bankrupt by corrupt forces at the centre and state level. “In the last 13 years, all entities of IMA have made a profit worth Rs 12,000 crore, which we have paid to all our investors. Even the Rs 2,000 crore capital investment has been returned to the investors. The remaining assets worth Rs 1,350 crore will be liquidated to return the money I owe the investors,” he says in the video.

Claiming that he tried to come back to India on June 16, but was deboarded from the plane, he says, “The officials told me that I could not leave wherever I was and my ticket was cancelled. I was asked to contact the Immigration Department, but due to jummah (Friday prayers), it was shut.”

Mansoor also names a bunch of people – sarcastically thanking them for stabbing him in the back. He claims there is a massive controversy behind IMA’s fall, and also has bitter words for his investors who complained about IMA, and did not wait for his business to get better. “IMA has been helping around 21,000 families with monthly income, around 18,000 children with education across India, and given ration to 7,300 families,” he says.

Promising to come back to India, Mansoor adds that he is in a better state of mind than when he released an audio clip last week, where he had said he was going to kill himself. Claiming there were anyway people trying to kill him, and that he wasn’t afraid, he says, “The moment I reach there, those people would have made all the plans to kill me, all planning would have been done to shut my mouth – but I'm not coming back for myself. In the previous audio, I said that I would take my life. That was a demotivated statement of mine. But I know that if I have to die, then why should I kill myself when there are people ready to do that. I know that they can kill me in custody as well. They can kill me after I'm produced in court and if I get bail from there and leave then they can kill me on the road.”

Who is Mansoor Khan and what is the IMA scam? Read: Tracing the meteoric rise of IMA Jewels scam kingpin Mansoor Khan

Also read: Fearing loss of money deposited in schemes, hundreds protest against Bengaluru's IMA Jewels


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