Bengaluru, Jun 23: A dozen directors of the I Monetary Advisory (IMA) group -- who have been arrested after their boss Mohammed Mansoor Khan went absconding gulping the money of thousands of investors -- too had reportedly invested in IMA Private Limited.
Sources in the Special Investigation Team (SIT) probing the group’s alleged multi-billion scam said the directors had not performed their duties as designated directors.
According to SIT chief investigating officer BR Ravikantegowda they are enquiring on the antecedents of the directors. “We are questioning them on different grounds. We cannot say anything more at this stage,” he said.
However, multiple employees with IMA revealed that the directors had invested in the group. “We’re not sure about the exact amount of money they had put in, but they surely had invested. They had also introduced different investorswho had put in more than Rs 10 lakh,” added one of them.
Sources also said that not just the directors, but several teachers from the school IMA had adopted had also invested.
On Thursday, the SIT arrested Shadad Ahmed, 28, Israr Ahmed, 32, P Ahmed, 30, Mohammed Idris, 30, and Usman Abarez, 33 — all directors in IMA group of firms. “They are in police custody for questioning. Some handled financial transactions, but all of them persuaded investors to put money in the company,” a source said. The SIT had earlier apprehended seven other directors.
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