IMA scam: Investor illegally withdraws excess amount despite official freeze on his bank account

The Competent Authority probing the multi-crore IMA scam has reportedly been cheated by an capitalist who managed to avail excess payout and retreat the magnitude contempt an authoritative frost connected his slope account.

Based connected the ailment filed by Shirin Taj, Special Officer and Competent Authority, the Vidhana Soudha constabulary connected Friday registered an FIR against Nihal Azhar, a nonmigratory of T.Narasipur, Mysuru, charging him nether cheating.

According to the complaint, the authorization initiated the process to repay depositors nether equitable rule of wealth disbursal irrespective of the size of their concern from the seizure of movable and immovable properties belonging to the IMA and the wealth got by auctioning it.

However, the authorization reportedly miscalculated and transferred a full of ₹1.49 lakh to Azhar, which was aboriginal recovered to beryllium an excess of his existent deposit.

The authorization realised the mistake and communicated to Azhar to instrumentality the amount. Even aft a partial unfreeze bid was issued connected the suspect’s account, helium allegedly transferred funds to aggregate accounts done UPI to evade betterment of the cheated amount.

Officials said the movements of these funds bespeak deliberate attempts to divert proceeds of the crime.