Bengaluru

SIT finds 5,880 ‘fake’ gold biscuits in home of IMA founder

They were used to impress potential investors

The Special Investigation Team (SIT) recovered 5,880 gold-plated copper biscuits from a multi-storey residential apartment on Richmond Road belonging to Mohammed Mansoor Khan, founder of the I Monetary Advisory group of companies, which is embroiled in a multi-crore investment scam.

According to SIT officials, which is probing the scam, the biscuits were hidden near Khan’s swimming pool on the sixth floor of the seven-storey apartment.

According to an official, each biscuit weighs a little over 50 grams, brining the total weight of the haul to around 300 kg.

“They had been hidden by one of the IMA directors, Nizamuddin, on Khan’s instructions,” said an SIT official.

Khan would display the biscuits on the wall of one of his showrooms. The police say he would show them to potential investors to lure them into putting money into IMA.

“A day before Khan fled the country, Nizamuddin carried the biscuits to the Richmond Road apartment and hid them. He was instructed to do so by Khan,” said the police.

The SIT have taken Waseem, an IMA director who was in charge of maintaining the apartment, into custody for further questioning.

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Printable version | Jul 7, 2020 12:31:02 PM | https://www.thehindu.com/news/cities/bangalore/sit-finds-5880-fake-gold-biscuits-in-home-of-ima-founder/article28871852.ece

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