Terror funding: ED arrests Arshad Allie, Fayaz Dar for money laundering
STATE TIMES NEWS
JAMMU: The Enforcement Directorate (ED) has arrested Arshad Ahmed Allie and Fayaz Ahmed Dar for their alleged involvement in money laundering for funding terrorist activities.
According to case history, on May 27, 2019, Arshad Ahmed Allie and Fayaz Ahmed Dar were apprehended by City Police Station in FIR 38/2019 registered under sections 8/21/22/25/27-A/29 of NDPS Act and 201 of RPC.
They were found in possession of Rs. 12,00, 560 cash and 260 grams heroin in a white Creta car with a temporary RC.
Investigations revealed that Arshad Ahmed Allie and Fayaz Ahmed Dar, along with others, were part of a criminal conspiracy involving financing illicit trafficking of narcotics from across the border, which was allegedly used for terrorist activities, said Enforcement Directorate (ED) spokesperson.
Arshad Ahmed Allie has been actively involved in drug trafficking since 2011, with significant transactions totaling Rs. 2.16 crores in the last two years before his arrest. He purchased heroin from individuals like Mohd Altaf alias Hafiz, said ED spokesperson.
Pakistan-based accused terrorists, including Naseer Ahmed (brother of Fayaz Ahmed Dar), Aijaz Ahmed Pandit alias Ranga, and Shanni, resident of Pakistan, along with accused Mohd Razak alias Billa, were linked to drug trafficking activities with connections to Arshad Ahmed Allie, said Enforcement Directorate (ED) spokesperson.
Under PMLA (Prevention of Money Laundering Act) investigations, evidence from statements, documents, and bank accounts indicated a complex web of transactions designed to launder proceeds of drug trafficking into legitimate channels.
Arshad Ahmed Allie was accused of channeling funds derived from drug trafficking into terrorism activities, disguising them through a car dealership business (M/s New Style Car Bazar). The funds were allegedly used to support terrorist organisations, said Enforcement Directorate (ED) spokesperson. Fayaz Ahmed Dar was implicated in assisting Arshad Ahmed Allie in laundering drug money through their partnership in M/s New Style Car Bazar. He provided a front of legitimacy for illegal financial activities, helping obscure the origins of the proceeds of crime, said Enforcement Directorate (ED) spokesperson, adding “Both Arshad Ahmed Allie and Fayaz Ahmed Dar were accused under PMLA for offenses including concealment, possession, acquisition, and use of proceeds of crime, which were linked to drug trafficking activities with connections to terrorism. Jammu SSP Vinod Kumar and his team also supported Enforcement Directorate (ED) to expose the nexus and arrest the duo in money laundering case.
