BENGALURU: The Enforcement Directorate (ED), Bengaluru, on Thursday issued show-cause notices to the absconding Managing Director of I Monetary Advisory (IMA), Mohammed Mansoor Khan, and seven other directors of the firm — Anwar Pasha, Arshad Khan, Dada Peer, Naveed Ahmed, Nazir Hussain, Nizamuddin and Waseem — under the Prevention of Money Laundering Act (PMLA), 2002.
The ED has asked them to depose before it at its Bengaluru office on June 24 with all their financial documents including details of bank accounts held by them and their family members, details of all the entities they are associated with and all their movable and immovable properties in India and abroad.
The ED has also asked Mansoor and other IMA directors to come with copies of Income Tax returns filed by them and their entities since the incorporation of IMA till date.
The seven directors were arrested on June 11 and remanded to the custody of the Special Investigation Team (SIT), which is investigating the multi-crore scam, for 10 days.
The Ponzi scheme, running into several hundred crores, has robbed thousands of families of their precious life savings.
The scam came to light after the kingpin Mansoor fled the country on June 8 and released an audio clip in which he claimed that he had no option but to commit suicide after Congress MLA (now suspended) R Roshan Baig refused to return to him the Rs 400 crore which he had 'borrowed' for the recently concluded Lok Sabha elections.