Jewellery worth Rs 20.1 crore retrieved in IMA Group Ponzi scam
As per the sleuths, the four-floor showroom at the headquarters of the group was 90% empty.
BENGALURU: On Thursday, the special investigation team (SIT) which has been probing the IMA Group Ponzi scam, had conducted an elaborate search at the IMA Jewels showroom on Lady Curzon Road, Shivajinagar, and recovered gold, diamond and silver jewellery worth over Rs 20.1 crore.
As per the sleuths, the four-floor showroom at the headquarters of the group was 90% empty. The search team was also comprised of about 25 private appraisers, they had also searched the IMA Jewels showroom in Jayanagar on June 18 and recovered gold, diamonds and silver worth Rs 33 crore. The Jayanagar showroom too was 90% empty.
"The search started at 10am and concluded at 9pm during which we seized 30kg of gold, about 2,600 carat diamonds and 450kg of silver. The estimated value is approximately Rs 20.1 crore. Certain property documents found are being assessed. The search will continue," said S Girish, SP, SIT.
The police have said that, the gold which was seized was worth Rs 10.8 crore, along with diamonds Rs 7.5 crore and silver worth Rs 1.8 crore. And at Jayanagar showroom, SIT had seized 43kg gold ornaments worth Rs 13 crore, 5,884 carat diamonds worth Rs 17.6 crore, sylt diamonds worth Rs 1.5 crore and 520kg of silver worth Rs 1.5 crore.
An officer of the SIT had said, "We will search other offices of the group in a day or two. We will then question staff, Khan's friends and others. About the names dropped in the alleged audio clip of IMA Group founder-owner Mohammed Mansoor Khan, we will talk to legal experts and decide."