ED cracks down IS-linked module, seizes Rs 9.7 crore in multi-state raids

New Delhi, Dec 13 The Enforcement Directorate (ED) has conducted extensive search operations across multiple states in connection with an ongoing money laundering probe linked to a highly radicalised IS-affiliated terror module, officials said on Saturday.

According to the ED’s Mumbai Zonal Office, searches were carried out on December 11 at 40 locations spread across Maharashtra, Delhi, West Bengal, Jharkhand, Uttar Pradesh, Daman and Diu, and Ratnagiri.

Key areas covered included the Padgha–Borivali region near Mumbai.

The action was undertaken under provisions of the Prevention of Money Laundering Act (PMLA), 2002, in a case involving Saquib Nachan and others associated with the ISIS-linked module.

During the searches, the agency seized movable assets worth approximately Rs 9.70 crore, including cash amounting to around Rs 3.70 crore and gold jewellery and bullion valued at about Rs 6 crore.

In addition, 25 bank accounts belonging to accused persons and suspects were frozen. Officials also recovered digital devices, documents, and literature suspected of promoting radicalisation.

Details relating to several immovable properties of the accused and linked individuals were also seized during the operation.

The ED initiated its investigation based on FIRs registered and charge sheets filed by the National Investigation Agency (NIA) in case RC-29/2023/NIA/DLI under sections of the Indian Penal Code, the Unlawful Activities (Prevention) Act, and the Explosive Substances Act.

Investigations revealed that members of the module were allegedly involved in recruitment, training, procurement of weapons and explosives, and fundraising activities to sustain terror operations.

Further intelligence inputs from the Maharashtra Anti-Terrorism Squad indicated that individuals linked to the module were also engaged in illegal revenue-generating activities, particularly the clandestine cutting, smuggling and sale of Khair (Kaith) wood from reserve forest areas.

The proceeds were suspected to have been diverted to support extremist activities.

"Considering the gravity of the offence and the risk posed to national security, premises about the accused persons, their close associates and family members, and entities reflecting financial linkages or suspicious monetary transactions with the accused persons were covered for search under PMLA," the ED said in its press note.

During searches, suspected illegally procured Kaith wood was recovered, following which the concerned Forest Department officials were informed of the necessary action.

"During the course of the investigation, details about Hawala Operations were also found," the ED said.

"Furthermore, during financial analysis done by ED, it was revealed that various individuals linked with Borivali-Padgha ISIS Module were involved in illegal cutting and smuggling of Kaith Trees from the reserve forest areas of Padgha-Borivali area," it added.

The ED stated that investigations have also revealed hawala transactions and financial linkages between several suspects and the accused.

Further probe into the entire financial and operational network of the module is underway.

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