Help has started pouring in from different quarters for victims of the I Monetary Advisory (IMA) Group scam. Thousands of investors from across the State lost money after the group defaulted on payments.
Some people have offered to donate money, including those who had invested in IMA, earned returns and had withdrawn before IMA’s unexpected shutdown.
A retired professor, who had invested ₹ 7 lakh in 2017 in instalments, had earned around ₹2 lakh as dividends. “I had done some research in the market and was advised to withdraw the money. After the scam came to light, I was uncomfortable and my conscience was pricking me. So I decided to give it to those who were in dire need of the money,” he said, adding that he has chosen to help two families — one with a health emergency, and another that had been preparing for a wedding. He is also convincing many of his relatives who had invested in IMA and earned returns to do the same.
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Ameen-e-Mudassar, a career counsellor, said after learning about the incident, around three people came forward to part with their returns. “We do not know what the government and our so-called leaders will do. But we cannot sit quietly. So we decided to mobilise more people to help the poor who have lost their money,” he said.
Meanwhile, the Association for Protection of Civil Rights (APCR) has announced that it is ready to provide all kinds of legal assistance to the victims of IMA fraud. APCR has teams of lawyers in every district in Karnataka who can help the victims of IMA in providing legal assistance, they said.
Mohammed Niyaz, Karnataka secretary, released a statement: “Thousands of people in different parts of State have suffered loss by investing their hard earned money in the IMA. Most of the investors were middle class people. APCR will assist them by providing legal help.”
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The victims can contact APCR on 080-23435669.