The Special Investigation Team (SIT) probing the scam involving the I Monetary Advisory (IMA) group and its founder Mohammed Mansoor Khan recovered valuables worth ₹11.7 crore in raids conducted at his offices in the city from Saturday to Monday. This brings the estimated value of all goods seized in connection with the case to ₹31.7 crore.
During an earlier raid last week at the IMA office on Lady Curzon Road, the SIT had recovered jewellery, diamonds and gold and silver bullion worth ₹20 crore. “Investigators resumed searches at the IMA offices in Jayanagar and Lady Curzon Road based on information provided by the directors who were arrested,” a police source said.
SIT chief Ravikanthe Gowda said that Monday’s raids saw the seizure of 41.6 kg of gold valuables, 14.5 carat diamonds, 72.2 kg of silver bullion, 60 carats of precious stones, a licensed .32 revolver with 58 live cartridges, and ₹13.45 lakh cash.
In a video clip released on June 24, Mansoor, who is absconding, had claimed that he had properties — movable and immovable — worth over ₹1,700 crore. However, a rough estimation by SIT officials, based on the properties and valuables seized from the offices and the houses of the directors who worked for firms in IMA Group, puts the property value at under ₹300 crore. “There is a possibility Mansoor may have benami properties and other investments, which can be traced only after he is arrested and questioned,” the source said.