BENGALURU: The CCB police arrested Injaz Builders' director, Misbah Mukarram, who has been on the run for the last two months after swindling Rs 90 crores from his investors. Injaz Builders is said to have been involved in real estate and aviation.
Mukarram's arrest comes when the newly formed SIT team is looking for the main accused involved in the IMA scam.
“The CCB team led by inspector Yathiraj arrested him last night. He was absconding for the last two months and is accused of cheating several people in the name of halal money,” Alok Kumar Additional Director General of Police (Crime) said.
Mukarram's company was reportedly running Ponzi schemes known as ‘chain link multi-level marketing’ scam. In the name of 'halal investments,' the company offered huge returns to its investors and encouraged them to invest their money in the company and also bring in more investors.
The I-T had raided the company in 2017 and had found nearly 3,500 bank accounts related to Injaz through which they were routing money.