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Firm owner sent to 3-day ED custody
Khan, who had fled to Dubai, flew back to India and was arrested by ED officials after landing in New Delhi on Friday.
A special Prevention of Money Laundering Act court here 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 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 surrender.
Over one lakh people had invested in IMA Jewels, which had floated 17 companies, and Khan had invited people to invest in five such firms.
A total amount of ~4,084 crore was invested in the company, the SIT had said, adding that Khan had to refund approximately ~1,400 crore to his investors.
He fled to Dubai a month-and-a-half ago, leaving thousands of investors in the lurch.
