Bengaluru, Feb. 25 -- Revenue Minister Krishna Byre Gowda has announced that all depositors who lost their money in the multi-crore IMA (I Monetary Advisory) scam will receive their due compensation before the start of Ramzan.

A meeting was held yesterday to discuss the total amount involved in the IMA scam, the value of movable and immovable assets seized so far, the amount refunded to victims over the past seven years, and the timeline and method for compensating the remaining victims.

Over one lakh depositors had invested Rs. 3,213.58 crore in IMA with the hope of doubling their money, but they were defrauded.

Of the total 69,069 depositors, Rs. 1,400 crore had been returned as dividends from time to time. After the scam was exposed...