BENGALURU: On Monday, several people gathered outside the IMA jewels office could be seen teary-eyed, as they lost hope of getting their hard earned money back. They came from across the city as well as from neighbouring districts.
Most of them were women who work in garment factories and private firms. “I had borrowed Rs 2 lakh from my landlord to invest in IMA. My relatives also invested Rs. 9 lakh. We want our money back as we do not have any other source of income,” said Nazir K, a resident of KG Halli. Several investors refused to speak to the media, stating that they had no interest in their names being published.
About IMA
I Monetary Advisory (IMA) Jewels was launched in 2016 when market sentiment was low and demand for jewellery had dropped. IMA Group of Companies is led by Mohammed Mansoor Khan and its second outlet was launched in Jayanagar in 2018. The firm owns bullion trading facilities, educational academies, healthcare services and a multispeciality hospital, besides hypermarkets.