India’s Special Investigation Team (SIT) probing the multi-million dollar I-Monetary Advisory (IMA) scam said the compay’s fugitive founder and owner Mohammad Mansoor Khan will be brought back to India. Khan fled to the UAE on June 8 and is believed to be holed up in Ras Al Khaimah. SIT chief Ravikanthe Gowda said they know where Khan is hiding, adding that he will be brought back "soon".

Last week, the International Police (Interpol) issued a blue-corner notice against Khan, accused of defrauding thousands of Indians — including many based in the UAE. A blue-corner notice is an inquiry notice issued to locate, identify or obtain information on a person of interest in a criminal investigation. Unlike a red corner notice, it doesn’t seek arrest of a wanted person to face extradition or other lawful action.

On Monday, SIT carried out yet another raid on IMA’s business establishments in Bengaluru where the company is headquartered. Around 41 kg jewellery and a pistol with 50 bullets were recovered during the search operation. The raid came shortly after Khan released a YouTube video saying he was ready to return to India help in the investigations, but feared being killed.