IMA Ponzi scam: SIT seizes 5,880 fake gold biscuits from Mansoor Khan’s building

News Network

August 8, 2019

Bengaluru, Aug 8: The Special Investigation Team (SIT) recovered 5,880 gold-plated copper biscuits from a multi-storey residential apartment on Richmond Road belonging to Mohammed Mansoor Khan, founder of the I Monetary Advisory group of companies, which is embroiled in a multi-crore investment scam.

According to SIT officials, which is probing the scam, the biscuits were hidden near Khan’s swimming pool on the sixth floor of the seven-storey apartment.

According to an official, each biscuit weighs a little over 50 grams, brining the total weight of the haul to around 300 kg.

“They had been hidden by one of the IMA directors, Nizamuddin, on Khan’s instructions,” said an SIT official.

Khan would display the biscuits on the wall of one of his showrooms. The police say he would show them to potential investors to lure them into putting money into IMA.

“A day before Khan fled the country, Nizamuddin carried the biscuits to the Richmond Road apartment and hid them. He was instructed to do so by Khan,” said the police.

The SIT have taken Waseem, an IMA director who was in charge of maintaining the apartment, into custody for further questioning.

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Heading to Karavali Utsava? Check traffic changes and parking rules in Mangaluru

News Network

December 20,2025

Mangaluru, Dec 20: The Mangaluru City Police have issued a detailed traffic advisory ahead of the inaugural ceremony of Karavali Utsava, which will be held at the Karavali Utsava Ground on Saturday.

The festival will be inaugurated at 6:00 pm by Dakshina Kannada District Minister Dinesh Gundu Rao. Cultural and public programmes will be held at the venue every evening and will continue until January 2.

According to City Police Commissioner Sudheer Kumar Reddy, parking of vehicles is strictly prohibited on both sides of the road from Lalbagh to Karavali Utsava Ground. Visitors are requested to park their vehicles only at designated parking areas.

To help the public, traffic signboards and parking guidance flex boards have been installed along the routes leading to the venue. The police have urged commuters and visitors to follow these instructions to ensure smooth traffic movement.

Designated Parking Locations

•   Urwa Market Ground – Cars
•   Gandhinagar Government School (near Press Club) – Two-wheelers and cars
•   Ladyhill Church parking area – Two-wheelers and cars
•   Canara School Ground, Mannagudda – Two-wheelers and cars
•   Thimmappa Hotel premises – Two-wheelers and cars
•   Scout and Guide Bhavana premises (behind Karavali Utsava Grounds) – Two-wheelers
•   Urwa Market Road – Two-wheelers
•   Hat Hill Road – Two-wheelers

The police have appealed to the public to cooperate by following traffic rules and parking guidelines to avoid inconvenience during the festival.

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