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Shocking! Khan cheats 32,000 people, flees India

Saturday, June 15, 2019 • Tamil Comments

Shocking! Khan cheats 32,000 people, flees India

Here is the case of a Ponzi scheme which has taken a toll on 32,000 gullible investors.  The size of the scam is estimated to be Rs 1700 Cr.  I Monetary Advisory (IMA), the scheming company and its founder Mohammed Mansoor Khan are in the dock.  Khan, authorities believe, fled to Dubai weeks ago fearing investigation.  As per the latest reports, Khan may have run away from India on June 8.  

The Bengaluru-based scamster has been under the radar of RBI and the Revenue Department for many months now.  In February or March, a senior Karnataka Minister is believed to have tried his best to secure a loan of Rs 600 Cr for Khan.  This is after a bank refused to grant him loan without a No-Objection Certification from the Government of Karnataka.  The senior Minister could get done everything but an IAS officer put a spanner in the wheel.  He refused to sign the NOC, thus saving Rs 600 Cr from falling in the hands of Khan.

Will Khan ever be extradited to India?

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