Nation Current Affairs 26 Jun 2019 2nd ponzi scam opera ...

2nd ponzi scam operator traced, holed up in Qatar

DECCAN CHRONICLE. | MUJAHID DEPUTY
Published Jun 26, 2019, 2:10 am IST
Updated Jun 26, 2019, 2:10 am IST
MorgenAll founder-director, wife tracked by thecognate.com.
The passport of Irfan Pasha promoter of MorgenAll investment company
 The passport of Irfan Pasha promoter of MorgenAll investment company

Bengaluru: The Middle East has become a safe haven for fraudsters who after cheating thousands of people with their Ponzi schemes settle down there along with their families leading a luxurious life.

Like I Monetary Advisory (IMA) managing director Mohammad Mansoor Khan who duped over 50,000 investors to the tune of over 2,000 crore and is believed to be hiding in Dubai, the founder-director of MorgenAll, an investment company in Horamavu, too has settled down in Doha, Qatar after cheating thousands of people and fleeing the country. A news website, thecognate.com, has tracked down MorgenAll founder Irfan Pasha and his wife Maqdooma Fathima to Doha where they are running a job recruitment agency.

 

Deccan Chronicle too has accessed the registration certificate of their new agency, “Credentia HR”, which confirms that Irfan and Maqdooma are the managers in the company and are 25 and 24 percent partners in the business. The major share of 51 percent is held by Qatar-based Yes Mart Trading and Services and agency's capital investment is Qatari Riyal 2,00,000, which is approximately Rs 38 lakh. According to sources, the duo has been running the agency since October last year, but the Central Crime Branch (CCB), which is investigating the investment scam, seems to have slept over the case and has shown no concrete progress over the last nine months. The office of Credentia HR is located at 412, 4th Floor, Markaz Almana Building, Above Ford Showroom, Building #8, Al Matar Street, Street #310, Zone #26 Najma Airport Road, Doha.

 

Deccan Chronicle tried to contact CCB officials, but failed to get any response.

Now that the location of the fugitive couple, who duped thousands of people promising high returns, is identified, investors believe that the police should wake up and take action.

The accused hold two Passports: MorgenAll founder-CEO Irfan Pasha and his wife Maqdooma Fathima, who was the director in the company, had planned it all well before escaping to Doha. They had registered Credentia HR on November 11, 2017, while they started operation only in October 2018, just weeks weeks after the husband-wife duo fled the country. Interestingly, they had two different passports, which they used systematically. One set they used for travelling, while the other for the registration of the agency in Qatar.

 

They were clever enough to use only one set of passports within India and for flying as they knew the other set would come in handy when the MorgenAll scam breaks out.

Irfan Pasha has two passports bearing numbers Z4676026 and L7213058. The first was issued in Bengaluru in 2017 which he used for flying outside India and other purposes within the country, while the second was issued in Dubai in 2014 which he used to register the company in Qatar.

Maqdooma has two passports bearing numbers R7123405 and G8573215. She used the first for flying outside India and the second is mentioned in the agency certificate.

 

Now that the passport details and the agency's registration certificate confirm the location of Irfan and Maqdooma all eyes are on CCB's next move.

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Location: India, Karnataka, Bengaluru




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