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Tue, Jul 16, 2019 | Last Updated 5:31 pm IST

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Man cheats 32000 and escapes!

Man cheats 32000 and escapes!
Man cheats 32000 and escapes!

The Ponzi scheme has affected more than 32,000 investors and it has been estimated to be bringing a loss of close to Rs 1700 Cr.  Monetary Advisory IMA, which was the company involved in the fraud and it's founder Mohammed Mansoor Khan have escaped though.  It has been said that Mohammed Mansoor Khan escaped to Dubai before few weeks to escape from investigation.  It has been predicted that Khan must have escaped from india on June 8.   

Man cheats 32000 and escapes!

Khan is based out of Bangalore and reportedly was under scrutiny of RBI and the Revenue Department for quite some time.  As per reports before few months he had the contact of a Karnataka Minister who had tried to misuse his powers to influence and grant him a loan of Rs 600 Cr.  It must be noted that the same bank denied him a loan unless the Karnataka government issued a No-Objection Certificate for him. 

Though the Minister was powerful enough to get it done for Khan, an IAS officer interference stopped and shattered his plans due to his refusal to sign the NOC, which avoided further loss of 600 crores getting into Khan's hands.

Man cheats 32000 and escapes!
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Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.