‘Mansoor Khan is useless’, ‘Mansoor Khan killed himself’—these were some of the messages that hundreds of humans in Bengaluru received on their smartphones on Monday morning. Mohammed Mansoor Khan is the proprietor of IMA Jewels, which many have deposited in an investment scheme. As soon as the message started doing the rounds on WhatsApp, it caused panic amongst those who had deposited in the system. They rushed to the showroom on Lady Curzon Road, Bengaluru.
Since 9 a.m. on Monday, the road has seen a sea of protestors, both male and female, demanding the lakhs (or maybe crores) of money they’ve deposited with IMA Jewels again. A posse of police stood guard at the showroom’s entrance and tried to soothe the protestors. “When we came right here, we learned that Mansoor Khan isn’t lifeless,” stated one woman, while another protester said, “He may have escaped as he couldn’t return our cash.”
There was a reason why the message on WhatsApp triggered the panic. According to the scheme, IMA Jewels promised to pay its depositors a go-back of up to three per month if the enterprise makes earnings. Hence, if someone invests Rs 1 lakh in the jeweler, they will get a hold of Rs 3,000 in a month. However, the return can also be lessened, employing 2% or 1%, or no quantity if the organization isn’t doing well. This is what the proportion certificate that depositors get hold of states,” Usma, whose circle of relatives deposited Rs eleven lakh within the scheme, told TNM.
“Since the final 3 to four months, we had been receiving only one according to cent of the amount invested,” Nigar Sultana, one of the protestors, informed TNM. “Last week, I received a message from the jeweler saying that the remaining month-to-month amount will go back and has been credited to my bank account. But this has not meditated in my bank account. All we see is a closed keep.” This became the priority that added the others to the footsteps of the jewelry showroom,
hooked up in 2016 using the IMA (I Monetary Advisory) Group of Companies, led by Mansoor Khan. In reality, even earlier than the messages on WhatsApp surfaced, the depositors got wind of the problem in March. “When I realized my monthly return had reduced, I enquired with the jeweler to see if there had been any setback. They attributed it to election season and other technical troubles. He (Mansoor Khan) in no way informed us of the actual problem,” stated a protester, who did not desire to be named but emphasized that they did their due diligence earlier than investing in the scheme.
