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IMA scam: Properties worth Rs 279 crore seized

The properties were either registered in the name of Mansoor Khan or his family members’ name.

Bengaluru: The Karnataka government secretariat has issued a notification about the properties, cash, valuables and cash seized from the I Monetary Advisory (IMA) and its owner Mohammed Mansoor Khan, who is currently absconding after cheating thousands of people who had invested money in his company’s schemes.

The notification mentioned that they have seized properties which include houses, flats and land in the city and in the districts of Kolar (Malur), Davanagere, Chikkaballapura besides other places. The properties were either registered in the name of Mansoor Khan or his family members’ name.

In the city, he owned properties in prime areas such as Spencer Road, Benson Town, Richmond Town, Wilson Garden among many other places. The total worth of the immovable properties, which have been seized, is worth over `279 crore.

IMA had five offices and showrooms across the City and when they were raided, valuables like gold, silver, platinum, diamond and cash worth several crores was found. They also seized three vehicles belonging to Mansoor, which is worth Rs 1.20 crore.

It was further found that Mansoor had opened over 60 accounts in various banks in the city in the name of IMA, IMA Jewels, IMA Credit Co-op Society, IMAFL Health Care, in his name and his family members. The total amount found in these accounts is over `10.75 crore.

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