BENGALURU: The special investigation team (SIT) probing the Rs 3,000-crore I Monetary Advisory (IMA) Ponzi scheme on Wednesday seized 5,880 gold-coated copper biscuits, weighing about 303kg, from an apartment complex in Richmond Town. The seven-storey complex, owned by IMA founder-director Mohammed Mansoor Khan, is located near Richmond supermarket. Each biscuit carried a mark indicating it weighed 50g. SIT sleuths suspect there is something more than what meets the eye in the stashing away of the fake gold biscuits on the terrace of the apartment. “If he wanted to hide something, he should have hidden real gold or documents, but we don’t know why he chose to hide fake gold,” said a police officer. The officials said that IMA directors Nizamuddin and Waseem had stashed away the gold-coated copper biscuits on the apartment terrace on Khan’s instructions in early June. They were found in an enclosure built for a motor used to pump water for a swimming pool located on the terrace. Police sources added that they suspect Nizamuddin or Waseem might have exchanged the real gold and replaced it with the fake biscuits. Officials said Khan used to flaunt the gold-coated biscuits in front of his potential business associates and investors. It was unclear why Khan had instructed Nizamuddin to hide the fake gold biscuits in such a place. Residents of the apartment complex were in for a rude shock after a police team raided the place. “We initially thought it was real gold and it was all over the place. Police later said it was fake,” a resident said on condition of anonymity. The raid happened after questioning of Khan, who is presently in SIT custody. Sleuths said they have taken Waseem into custody. Police have also seized immovable properties, gold and other valuables worth Rs 500 crore in connection with the multi-crore scam.
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