IMA Scam: Fatwa from Imams forced gullible people to invest in the fraudulent company
Imams and Maulvis of mosques in Bengaluru had issued fatwas to gullible Muslims to invest in the fraudulent company Islamic Monetary Advisory which was intelligently branded as IMA throughout its existence. Investors have accused the Imams of receiving kickbacks from IMA to issue Fatwas.
Imam of the Jamia Masjid has been accused of giving fatwa to Muslims to invest in the fraudulant company IMA 
Touted as the biggest investment scam of Karnataka, new revelations are tumbling out with regards to way the IMA scam was executed. Islamic Monetary Advisory, branded as IMA by its promoters, claimed to follow the 'Islamic Finance' model. It has been revealed that Imams and Maulvis of Mosques had issued fatwas to Muslims to invest in the sham company. Such fatwas were also issued by the Imams in favor of other scam ridden companies like Ambident Chit Fund and this has been disclosed by adherents of the Imams themselves. Organiser had revealed how thousands of investors lost crores to IMA and Mansoor Khan.
Sharief, an investor in IMA who lost lakhs like thousands others has alleged that Islamic preachers and Mullahs had given a fatwa in the local mosques to Muslims to invest in IMA. Many people had invested in the fraudulent company not only because of the high returns promised but also because of the fatwas given by their Imams and Mufits, alleges Sharief. Imam of Jamia Masjid in Shivajinagar of Bengaluru is one of the Imams who had issued such a fatwa. Jamia Masjid is the largest Mosque in the city which is attended by thousands daily for namaz. 
Former ACP Abdul Azeem has questioned that Imams and said that claiming that IMA business was 'Halal' itself was a false claim as they earned profits. He says that the Imams who misled gullible Muslims in the name of Islam and issued fatwas are the one who should be held liable first. He says that the Imams have done a disservice to both Islam and Muslims by issuing Fatwas favoring a scam-tainted company and forcing people to invest in it. His charges have raised doubts over the kickback all such Imams would have received from IMA and its promoters. Abdul Azeem has said that the Imams have to be arrested and interrogated for both defrauding the people and also for misusing religion and religious places to force people to invest. 
Imams and Maulvis received kickbacks from IMA?
Another investor who was witness to such a fatwa being issued from the Jamia Masjid has seconded the claims of Sharief. Fareed says that such fatwas always come at a cost and are not issued for free. This means that the Imams have received money or other largesse from IMA or its founder Mansoor Khan. He also says that the government of the day is also guilty as it knew about the company's phony dealings yet did not act before time. Similarly, Imams had promoted another fraudulent company Ambident in their mosques. Ambident too had collected crores of rupees from gullible investors and sank without a trace. Senior police officers say that lack of monitoring of mosques and activities their has led to this situation.
The lack of interest shown by the Cong-JD(S) coalition government in going after IMA raises lot of doubts. Media reports clearly indicate that ACP Nagarj had begun investigation against the accused company more than a year ago and two notices were also advertised in prominent newspapers of the state. It was also reported that when the notice from the ACP appeared in the newspapers, supporters of Mansoor Khan had barged into the office of the ACP and had threatened him with dire consequences if he continued to target the company. Despite all such incidents, the government did not find it prudent to investigate or restrain the company from getting more investments. 
The Muslim community in Bengaluru in consultation with leaders are urging to rein in such practices by Imams and have an eye on such people who back the fraudulent organizations. Police officials too are of the opinion that such a monitoring group will keep a tab on the Imams and Maulvis and restrain them from indulging in corrupt and anti-social practices. 
Another Congress MLA's involvement exposed 
7 directors of IMA have been arrested and have been produced before the district magistrate. Nizammuddin, Nasir Hussain, Naveed Ahmad, Arshad Khan, Wasim, Ansar Pasha, Dada Peer are the ones who surrendered before the police yesterday. The police have interrogated the 7 and are collecting evidences with respect to their invovlement in the scam and also if they helped the founder Mansoor Khan escape from India. Amidst this, the investors have urged the police to even arrest the politicians, local leaders and corporators who are involved in the scam. 

 Congress MLA Zameer Ahmad Khan with founder of IMA Mansoor Khan
Congress MLA and Minister for WAKF and Minority Affairs in Government of Karnataka Zameer Ahad Khan's name has also cropped up in the scam. His election affidavit filed during the Assembly elections last year showed that he had borrowed Rs. 5 crore from the IMA. Investors have doubted that such huge loans will not be given to anyone without being close to the promoters or pledging a huge collateral. Zameer Ahmad in his defence has said that he used that money for buying a property and that he has the sale deed for the same. But the minister failed to convince as to how did he procured such a huge loan without a collateral or, as he claims, without knowing any of the promoters of IMA very well in person.
Zameer Ahmad Khan is the second Congress MLA to be caught in the cross-hairs of the IMA scam after Roshan Baig, who was accused by the IMA founder and absconder Mansoor Khan of having forcibly taken Rs. 500 crore from him and not returning the same. Incidentally, year old photos of Zameer with Mansoor Khan have emerged where the bonhomie between the two is clearly visible. Zameer has also visited the premises of IMA Jewels several times for functions and events. Zameer was in the JD(S) earlier and he shifted allegiance to the Congress in 2018 before the assembly elections. With collusion between the politicians of the ruling parties and the scamsters of IMA becoming clear, justice to the victims seems to be a distant dream.