scorecardresearch
Follow Us:
Saturday, May 21, 2022

Rs 1.14 crore ‘terror fund’ for investment seized by NIA

The agency refused to share the name of the businessman

Written by Express News Service | New Delhi |
November 5, 2013 1:04:55 am

The National Investigation Agency (NIA) has seized Rs 1.14 crore from a businessman in Bangalore,which was allegedly part of the proceeds of terrorism. The money,according to investigators,belongs to the Manipur-based militant outfit People’s Revolutionary Party of Kangleipak – the United People’s Party of Kangleipak (PREPAK-UPPK).

During questioning,the agency learnt that PREPAK-UPPK has raised money through extortion and its self-styled general secretary N Shanti Meitei gave the money in cash to his childhood friend who is a real estate developer based in Bangalore. The agency refused to share the name of the businessman and said that his statement has been recorded under Section 164 of CrPC. Meitei was arrested by NIA and later released on bail.

The NIA said the money was seized from the State Bank of India account of the businessman. In its statement,NIA said,“This is the largest seizure of cash so far by NIA.”

In his statement,the businessman admitted to receiving the money from Meitei in 2005-06. The money was given by Meitei in several tranches and the agency suspects that several similar transactions were conducted by the outfit to invest in real estate. According to investigators,Meitei has asked his friend to split the money and partially invest in real estate,share market and bonds. The NIA is in the process of identifying whether any investments were made using this money.

Best of Express Premium

Qasim Rasool Ilyas: For the first time, AIMPLB has decided to reach out t...Premium
DU’s Hindu College professor arrested for post on ‘Shivling&#...Premium
As Indian economy grows, Centre and states must work togetherPremium
Governments must understand that resources are held in trust. They’re not...Premium

For all the latest News Archive News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement