Investors throng jewellery store as owner 'disappears'

Hundreds of investors thronged a prominent city jewellery store Monday after an audio clip surfaced where a person alleged to be the owner is heard saying he is going to commit suicide as he was fed up with corruption.

The owner was also into the chit fund business.

As soon the audio went viral, investors including a large number of women with their children started gathering at the IMAJewellers headquarters at Shivajinagar near here demanding action against Mohammed Mansur Khan, the owner.

The person is heard addressing police that he was committing suicide as he was fed up withcorruption in the state and central government.

 

In the audio, he is also heard accusing central and state officials ofharassing him, compelling him to take the extreme step.

He also asks police to sell all his wealth and jewellery topay investors and is heard accusing a politician of taking Rs 400 crore from him and not returning it.

Investors claimed they had invested crores in the firm.

Police have deployed adequate force around the jewellery shop to prevent any untoward incidents.

Deputy commissioner of police of Bengaluru East division Rahul Kumar Shahapurwad appealed to investors to lodge complaints with police with whatever proof they have.

He also made it clear that they have no information about Khan and asked people not to jump to any conclusion.

Police suspect that at least 26,000 investors from across Karnataka have been cheated.

Meanwhile, police have sounded alert at airport, bus-standand railway station to track the jeweller.

Police and investors said his mobile phone has been switched off and he is not traceable.

".... He has switched off his mobile phone and he is untraceable," commercial street police inspector B K Shekhar said.

Gultaz Banu, an investor, claimed she had invested about Rs nine lakh in the company.

"Since he was paying very high returns we relied on him. Isold all my jewellery to deposit in his company. Today I amleft with nothing," Banu said.

Most of those who invested in the company belong to the minority community, working as autorickshaw drivers, beedi manufacturers, carpenters and street vendors, police said.

Two years ago, the income tax department had conducted searches at the IMA business establishments.