Mon Dec 01 15:44:13 UTC 2025: Here’s a news article summarizing the provided text:
News Article:
IMA Scam Probe Hit by New Cheating Incident; Investor Accused of Illegally Withdrawing Frozen Funds
Bengaluru, December 1, 2025 – The ongoing investigation into the multi-crore IMA scam has been complicated by a new incident of alleged fraud. According to a complaint filed by Shirin Taj, Special Officer and Competent Authority overseeing the repayment of depositors, an investor, Nihal Azhar of T.Narasipur, Mysuru, is accused of cheating the authority by illegally withdrawing excess funds from a bank account that was supposed to be frozen.
The Vidhana Soudha police have registered an FIR against Azhar, charging him with cheating. The complaint alleges that during the process of repaying depositors using funds seized from IMA properties, the authority miscalculated and transferred ₹1.49 lakh to Azhar, exceeding his actual deposit amount.
Despite being notified of the error and instructed to return the excess payment, Azhar allegedly transferred the funds to multiple accounts via UPI transactions, even after a partial unfreeze order on his account, seemingly in an attempt to evade recovery of the funds. Officials stated that these transactions suggest a deliberate effort to divert the proceeds. The investigation is ongoing.
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