A Special Investigation Team (SIT) on Saturday carried out raids at Rayyan stores and Frontline Pharma in connection with the IMA Jewels case.
The investigative team has seized perfumes, bags, and fabric worth than Rs 15 lakh, and medicines worth more than Rs 1 crore.
On June 25, the team which is probing the alleged financial fraud by I Monetary Advisory (IMA) conducted searches at IMA's Tilak Nagar and Yashwantapur branches. The agency seized 2.27 kg gold ornaments, 26.5 kg silver and cash worth Rs 83,26,000.
Earlier, the SIT raided the firm's branches in Shivajinagar and seized jewellery worth Rs 13 crore, some property documents and a pistol with bullets.
The IMA has allegedly cheated a large number of investors, mainly Muslims, after promising them impressive return on their deposits.
The development comes after IMA founder Mansoor Khan, who is on the run, released a video urging police to arrange his return to India so that he could join the probe.
Mansoor Khan, in a video released on YouTube, promised to fully cooperate in the investigation being conducted by the 11-member SIT and assured to return the investors' money by liquidating the company's assets.
He disappeared earlier this month after sending an audio clip to some investors threatening to commit suicide due to what he alleged was "harassment" by some politicians and goons.
The SIT had earlier conducted a raid at his office and seized jewellery worth Rs 20 crore. It had arrested the firm''s auditor Iqbal Khan and seven directors of different entities linked to Khan.
The Enforcement Directorate (ED) had also issued summons to the IMA founder directing him to appear before the agency on June 24, but he failed to appear as he is believed to be in a foreign country.
Over 25,000 complaints have been filed against the company.
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