Islamic Clerics Issued Fatwas To Force Muslims To Invest In IMA Jewels Ponzi Scheme: Report

Islamic clerics like Imams and Maulvis were issuing fatwas in local mosques to force Muslims to invest in the IMA jewels ponzi scheme which has resulted in thousands of investors losing their money, Organiser has reported.

The report quotes a Muslim investor (who has now lost lakhs due to this scheme) as claiming that he was issued a fatwa in a local mosque to invest in the company. The Imam of Jamia Masjid in Bengaluru’s Shivajinagar has been accused of issuing fatwas to this regard. The Jamia Masjid is said to be the largest mosque in the city.

Following these charges, former ACP Abdul Azeem has demanded that the accused Imams be investigated and be held liable if found guilty of misleading gullible Muslims.

These allegations have led many to question whether the Islamic clerics had received kickbacks from the IMA Jewels’ promoters to issue their fatwas.

The Managing Director of IMA Jewels Mansoor Khan has fled the country and is currently rumoured to be in Dubai. Local law enforcement agencies have been accused of facilitating his escape.

It has also been reported that the Congress-JD(S) led state government did not launch an investigation despite receiving a letter from the RBI warning it about IMA Jewels and its operations.