IMA jewellery scam not the first case of investors being cheated: Police

  • | Tuesday | 11th June, 2019

Chetana Belagere ByExpress News ServiceBENGALURU: Thousands might be left confused, scared and angry after losing their hard-earned investments in IMA jewellery scam but city police say that it is not a new scam. “These companies cash in on the factor that Muslims are taught that ‘riba’ or usury is haram (prohibited) in Islam. The method used by these companies, IMA, in particular, is to allow people to deposit funds, upwards of Rs. In 2018, there were a series of complaints filed by depositors against IMA but there was no action taken. “Few of them who were smart withdrew from him and those were spared of this rude shock,” said an investor.

Read Full Article Here

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

NYOOOZ FRIEND

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.


Stay updated with all the Bangalore Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.

Related Articles