₹1000 Crore Scandal, Money Laundering Case Terror Funding: ED, which is investigating the Malegaon money laundering case, suspects that 255 primary bank accounts are potentially linked to terror funding. ED has found some important evidence during the investigation under Operation “Real Kuber”, which indicates that this is a well-organized money laundering network, in which a web of several cell companies has been created and is allegedly linked to political people directly and indirectly.
ED is analysing the transactions of these accounts. Investigation has revealed that these accounts were fraudulently opened in the names of Hindu youths so that this entire operation motivated by terrorist activities could be covered and there would be no possibility of suspicion. Also, a large amount of money could be collected in these 255 accounts of Kuber and not only could it be laundered through hawala, but a large part of it could also be allegedly used for suspicious activities motivated by politics.
“Clues of being linked to terrorist funding”
According to sources associated with the ED investigation, during the investigation they have found clues of this Rs 1000 crore money laundering network being linked to political networks and terrorist funding, which was laundered from the accounts of many other fake and shell companies. The ED investigation found suspicious financial activity related to 255 primary accounts, which revealed that these 255 accounts allegedly received money from accounts linked to political party leaders, who are directly or indirectly linked to religious politics and provocative activities. The agency is investigating the transactions of these accounts and the relationship between the persons related to these accounts.
“Money used in religious propaganda”
According to sources, investigation revealed that Rs 379 crore was withdrawn from these accounts from across the country, which was used to create a tense atmosphere during the assembly elections held in different states in the last few months and to disrupt law and order, including creating social and religious propaganda.
“Evidence of increasing religious propaganda by radical organisations”
ED’s investigation has also found evidence that some part of this money was allegedly given in cash to some fundamentalist organizations to promote religious propaganda, incite differences between Hindus and Muslims and promote political unrest related to ST, NT and OBC. ED has identified some persons allegedly associated with political parties during the elections.
During the investigation, ED had sent summons to several account holders of 255 bank accounts for KYC verification and statements of several account holders were also recorded. During interrogation, some people have claimed that the money in their accounts was related to gambling and betting.
“About Rs 114 crore transferred to 19 accounts”
During the investigation, an important link of Malegaon money laundering has come to the notice of ED, in which it was found that the 19 bank accounts of Malegaon in which the amount of Rs 114 crore was received for money laundering, are linked to these 255 accounts, in which about Rs 114 crore was transferred from this Kuber account to 19 accounts of Merchant Cooperative Bank and Bank of Maharashtra in Malegaon.
“Use of fake documents for transactions”
These 19 accounts were fraudulently opened by arrested accused Siraj Memon, who is accused of using fake documents for these transactions. During interrogation in ED custody, Siraj Memon revealed that he had provided the accounts at the behest of accused Nagni Akram Mohammed Shafi and the mastermind of this money laundering syndicate, Mahmud Bhagad (also known as “Challenger King” or “MD”). Challenger King is currently absconding in this case.
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