Rs 10-cr assets seized by ED in ISIS module case

The Enforcement Directorate (ED) has seized movable assets worth around Rs 10 crore and froze 25 bank accounts pertaining to the accused and suspects in an ongoing probe against individuals who are allegedly part of a highly radicalised ISIS-linked module linked to Saquib Nachan and others.

The seized assets included approximately Rs 3.70 crore in in cash and gold jewellery/bullion worth approximately Rs 6 crore.

The agency conducted search operations under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, at 40 locations in Padgha-Borivali Region near Mumbai, Delhi, Kolkata, Hazaribagh, Prayagraj, Daman and Ratnagiri in connection with the case.

Besides incriminating documents and details of various immovable properties of the accused, literature promoting radicalisation was also seized during the search proceeding, said the ED sources.

The ED had initiated the money laundering investigation on the basis of registered FIRs and chargesheets filed by the NIA under various sections of the IPC, UAPA and Explosive Substances Act.

Investigation revealed that the said individuals were part of a highly radicalised ISIS-linked module and were engaged in recruitment, training, procurement of weapons and explosives, and raising funds to sustain the operations of the terror module.

Intelligence inputs were also received from the ATS, Mumbai, which reflected that persons associated with this ISIS module were also involved in illegal revenue-generating activities, notably the clandestine cutting, smuggling and sale of Khair (Kaith) wood. It was suspected that the proceeds of these activities were diverted for supporting extremist activities.

The ED investigation revealed that various suspects had monetary links with the accused in the instant case, and they were identified on the basis of their bank account analysis.

Considering the gravity of the offence and the risk posed to national security, premises pertaining to 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 the PMLA.

During the course of investigation, details pertaining to Hawala operations were also found. Financial analysis by the ED further revealed that various individuals linked with the Borivali-Padgha ISIS Module were involved in illegal cutting and smuggling of Kaith trees from the reserve forest areas of the Padgha-Borivali area.

During the operations the suspected wood, prima facie obtained illegally, was found and the relevant officials of the jurisdictional Forest Department were informed for appropriate action.