BENGALURU: The Enforcement Directorate has found that IMA Managing Director Mohammad Mansoor Khan had received about Rs 4,000 crore in investments. The accused and his associates diverted the amount into various accounts and acquired various immovable and movable properties in his name, in the name of the other directors and associates, the ED found.
During the investigation, the ED analysed IMA Group's 105 bank accounts with various private banks and cooperative societies.
Investigations also revealed that Mansoor Khan had deposited Rs 44 crore in cash in various bank accounts during the period of demonetisation. After an Income Tax Department notice, IMA Group had paid taxes of Rs 22 crore. The remaining Rs 11 crore was lying in a bank account which was identified during the investigation.
While Mansoor Khan still remains elusive and is believed to be hiding in Dubai, ED is examining the possibility of invoking Fugitive Offenders Act.
The IMA scam stood exposed on June 10 after Mansoor Khan fled the country leaving thousands of investors in the lurch. Since then, nearly 50,000 complaints have been filed against Mansoor Khan and IMA.
The state government formed a Special Investigation Team (SIT), which has so far arrested 12 IMA directors and an auditor. A Blue Corner Notice has also been issued against Mansoor Khan.
Mansoor Khan first released an audio clip in which he claimed threat to his life from Shivajinagar MLA R. Roshan Baig. Mansoor Khan alleged that Baig owed him Rs 400 crore which he refused to return.
In another video, he had offered to surrender before the investigating agency and reveal some big names involved in the IMA business.
