Bengaluru: The ongoing investigation into the Ambidant scam revealed that as many as 15,000 investors, mostly poor Muslims, lost around Rs 950 crores in the same. The CCB is now trying to figure out the exact number of victims and the amount of money involved.

According to sources with the CCB, the documents collected so far have revealed that the company collected money from around 15,000 persons across Karnataka and Hosur in Tamil Nadu. “They restricted their operations only to Karnataka, fearing action in the neighbouring states. But people from the neighbouring states invested money in the company by giving the address of their relatives in the state. So, it is a big task to trace all the victims,” informed sources.

“The Muslim community, which is not part of the formal banking system, is the main victim of this scam. As the promoters were Muslims, they invested easily and lost the money,” they added.

What’s next?

According to the sources, the poorer investors may not get their money back. “We are waiting for the state government’s action in this regard,” informed an officer.