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Victims of IMA Ponzi Scam Protest Outside Store in Bengaluru, Demand Invested Money Back

More than a hundred people gathered outside the I Monitory Advisory jewels store on Sunday evening after receiving a message on social media about the protest.

Abbas Ali |

Updated:November 18, 2019, 4:25 PM IST
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Victims of IMA Ponzi Scam Protest Outside Store in Bengaluru, Demand Invested Money Back
File photo of IMA jewellers

Bengaluru: Investors, who were allegedly duped of their money after investing in the IMA ponzi scam, gathered outside the I Monitory Advisory jewels store in Bengaluru’s Shivajinagar for the second day on Monday. They protested and demand back their money deposited in various schemes of the company.

More than a hundred people gathered outside the store on Sunday evening after most of them received a message on social media about the protest. Around 30 people gathered outside the store on Monday morning.

"They received messages on social media announcing a protest scheduled for Sunday evening. They had taken no permission to protest. There is also a by-election in this constituency (Shivajinagar) so they cannot protest. We will find out who spread the message and take action," said DCP SD Sharanappa.

The police and protesters clashed outside the store and the police got the protesters to disperse.

"I had deposited three lakh rupees. Never got it back. Now I have a medical emergency in the family. Nobody is answering us. What should we do? " asked a woman who was among the protesters.

IMA, floated as an Islamic banking company, had offered several 'Sharia-compliant' investment schemes to believers. Its MD Mansoor Khan is accused of duping around 40,000 investors. The case was handed over to the CBI by the state government in August this year. Disqualified MLA from Shivajinagar constituency Roshan Baig's name also figured in one of the audios put out by Khan, raising speculations of an alleged involvement of Congress leaders in shielding Khan.

(The author is a news contributor.)

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