Impact: ED attaches properties worth 197 Crore, freezes bank accounts worth Rs 12 crores in IMA Ponzi scam following Republic expose; details accessed

In a massive development hours after Republic TV's S.I.T investigation laid bare the politician-scamster nexus behind the IMA ponzi scam - where religion was used to dupe thousands of investors in Karnataka - the Enforcement Directorate has taken stern action. Several immovable properties worth Rs. 197 crore of scam accused Mansoor Khan have been attached along with Rs. 98 lakhs from more than 50 bank accounts under Prevention of Money-Laundering Act, 2002.

The ED has attached 20 immovable properties held in the name of Mansoor Khan, whose valuation is about Rs. 197 Crore. Also, the ED has also identified 105 bank accounts, in which the available balance is around Rs. 12 Crore. The total amount of the seizures is about Rs 209 crore.

Republic TV accessed exclusive details of the properties of Mansoor Khan attached by the ED in the Ponzi scam. 

Earlier, Republic TV carried out a deep investigation into the duping of over 38,000 investors by founder of I Monetary Advisory (IMA) Mansoor Ahmed Khan uncovering the unholy nexus between a national party and a murky ponzi scheme, including sensational documents and exclusive videos of politicians hailing the main accused Mansoor Khan. 

WATCH HERE: EXCLUSIVE: IMA Scam Where Religion Was Misused And Politicians Let The Scamster Thrive Laid Bare, Documents Showing Unholy Nexus Between A National Party And Murky Ponzi Scheme Accessed

ED took the action on the basis of an FIR registered by the Police against IMA Group of Companies, Bengaluru, and its Managing Director Mansoor Khan.

The FIR reveals that more than 40,000 people have been duped by Mansoor's company which lured people for investments promising massive returns. A special team by ED found that Mohammad Mansoor Khan had promised monthly returns on the investments while the company was not doing any business to pay the promised return on the investments.

In addition, it has also been found that more than 100 bank accounts had received Rs. 4,000 crore as investments. This money was used then by Khan and his company to acquire various properties. The properties were acquired in the name of different directors and associates.

What has also been revealed is that Mansoor Khan had plenty of cash during the demonetization period and had invested around Rs. 40 Crore in various bank accounts during the same.

Republic TV has also learned that the Enforcement Directorate is now in the process of issuing a Red Corner Notice against the absconding IMA Director Mansoor Khan. The possibility of invoking of Fugitive Offenders Act is also being looked into.

WATCH: Mukhtar Abbas Naqvi Calls For Probe On IMA Scam Accused Mansoor Khan After Republic's SIT Investigation, Says 'if Fair Probe Doesn't Take Place, Then Congress Links Will Be Out In Open'