IMA Ponzi scheme: Main accused remanded in ED custody till Jul 23

Bengaluru: A special PMLA court in Be­n­g­a­luru on Saturday granted a three-day custody of Mohammed Mansoor Khan, the owner of IMA Jewels, to the Enforcement Directorate (ED) until July 23 in connection with a multi-crore-rupee Ponzi scheme case, in which thousands of investors have allegedly been cheated.

Khan, who had fled to Dubai, flew back to India and was arrested by ED officials after landing in New Delhi on Friday.

He was brought back to Bengaluru on Saturday and produced before a special Prevention of Money Laundering Act (PMLA) court, where the ED sought his custodial remand, officials said.

A lookout circular was issued against Khan by both the Special Investigation Team (SIT) and the ED. The SIT had said its sources in Dubai persuaded Khan to come back and submit himself before the law.

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