IMA Group Founder Mansoor Khan Accused In Rs 2500-Crore Islamic Banking Scam Arrested From Delhi Airport

The accused in Rs 2,500-crore Islamic banking scam, Mohammad Mansoor Khan, founder of I Monetary Advisory (IMA) Group was arrested by Enforcement Directorate (ED) at the Delhi Airport in early hours today, reports The Hindu.

Khan, who had fled to Dubai in June, according to a statement released by Karnataka SIT, was located in the Gulf country and then convinced to return back to the country and submit himself before the law. Khan had released audio clips in which he purportedly threatened to commit suicide, causing panic among the investors.

In another video clip released by him, the IMA Group founder claimed that a lot of big guns were involved in the downfall of his company and they were now a threat to his life, as he might reveal their names in front of the court. Khan had proclaimed his faith in Indian judiciary and had stated that he would return to India. In return, he demanded protection for his life.

The SIT recently questioned former Karnataka Minister and Congress leader R Roshan Baig following allegations by Khan that he had borrowed Rs 400 crore from him. Baig later said that he had been detained owing to some confusion and he would cooperate with the investigators.

The Karnataka SIT today also arrested 42-year-old Umar Shariff running a school by name "Al Basheer" at Bannerughatta Road, Bengaluru. Shariff was propagating for IMA and Mansoor Khan for the last 5 years. He has been sent to judicial custody till 22 July. Several Islamic preachers were allegedly involved in exhorting Muslims to invest in the group in the name of religion.