IMA scam effect: Many other firms also under scanner, say cops

While IMA scam is being probed by a Special Investigation Team, the Central Crime Branch is probing 11 such companies.

Published: 14th June 2019 06:17 AM  |   Last Updated: 14th June 2019 06:17 AM   |  A+A-

Investors wait with their families to file complaints, outside IMA Jewels in Shivajinagar on Wednesday | Pandarinath B

By Express News Service

BENGALURU: In the backdrop of IMA Gold fraud case, the police have issued the status report of the progress in the investigation in similar cheating cases in which private firms have duped people by promising high returns within a short span.

While IMA scam is being probed by a Special Investigation Team, the Central Crime Branch is probing 11 such companies. Besides, eight companies have several cases against them and it is under investigation by the jurisdictional police.

Photocart Finance Solutions firm has a case against it in Girinagar police station for allegedly cheating around 500 people to the tune of Rs 10 crore. While, Aala Ventures, which has allegedly collected over Rs 1 crore from the public, has cases against it in KG Halli and Suddaguntepalya police stations. 

Firms under CCB scanner
Ambidant Marketing Pvt Ltd, Ajmera Group, Injaz International, MorgenAll Cooperative Society, Nafiya Advisory Company & Nafiya Tours, AIMS Ventures, Mashrek Healthcare, Burraqh Unity LLP, SR Bluechip, Muzaribah Bullion Trading LLP and JSJ Global Advisory Services Pvt Ltd

Beware of fake calls offering help
The police commissioner took to Twitter to warn people against fake calls assuring help. He tweeted: “IMA Investors, beware of ‘Fake Calls’ from fraudsters asking for details of your ATM, CVV number to facilitate depositing amounts into your account. Do not share any such details under any circumstances. If you receive any such calls, immediately inform the local Police Station.” (sic)

Other firms
Sammilana Chit Funds & Finance (Tilaknagar police station); Royal Tours & Travels (Girinagar); Atharvagi Market Pvt Ltd (RT Nagar); Tripura Chit Fund Pvt Ltd (SR Nagar) and Vishwajyothi Charitable Trust (Subramanyanagar)

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