Bengaluru: After forcing the JD(S)-Congress government to revisit its decision on allotment of land in Ballari to the Jindal Group, senior Congress leader, H.K. Patil is now blowing hot and cold on the massive IMA investor scam claiming the government has simply not done enough to restore investor confidence.
In a strongly worded letter to Chief Minister, H.D. Kumaraswamy, Mr Patil, who was campaign committee chief of the Congress for the Lok Sabha poll, highlighted the plight of thousands of common people who had lost their hard earned money and said the government should immediately implement 'The Banning of Unregulated Deposit Schemes Ordinance-2019' which prevents companies from accepting deposits promising high returns.
Those found guilty of cheating investors should be punished with rigorous imprisonment of 3-7 years, said the former minister who wanted all unregulated schemes to be banned at once. A competent authority should be constituted to oversee the implementation of the ordinance and the government should ensure the return of money to depositors within 100 days, he added.
