The agencies are looking into bank accounts of Watali and other accused in terror funding case and how money was routed to them and then distributed for stone pelting
As corruption scandal in Jammu and Kashmir Bank came to light, which has seen the dismissal of chairman Parvez Ahmed, the investigative and intelligence agencies also found that Zahoor Ahmad Shah Watali, a Jammu and Kashmir businessman and accused in terror funding case, had extensively exploited the bank for funding terror activities. The agency found that he was the main conduit in funding separatists to carry out terror activities in the Valley and was in direct touch with Mumbai terror attack mastermind Hafiz Saeed and its organisation Lashkar-e-Taiba (LeT).
Last week, the Jammu and Kashmir Anti-Corruption Bureau (ACB) has registered a case against Sheikh Imran, the businessman-turned-politician who is the Deputy Mayor of Srinagar Municipal Corporation (SMC), officials of the Jammu and Kashmir Bank for alleged illegal appropriation of crores of rupees from the state exchequer.
“It has emerged he was in touch with Saeed through Pakistan High Commission and was getting funds through Dubai and for that he had used Jammu and Kashmir Bank and also had exploited its staff to its maximum,” said a senior IPS officer, privy to the case.
MONEY CIRCULATED
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- The agencies are looking into bank accounts of Watali and other accused in terror funding case and how money was routed to them and then distributed for stone pelting.
- National Investigating Agency had arrested Watali on August 17, 2018
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He said that or Pakistan High Commission and ISI and was passing on funds Watali to further fund to the Hurriyat leaders for terrorist activities and stone pelting and Jammu and Kashmir bank was used for that.
He was bringing money from offshore locations to India “by layering it through the scores of firms and companies he has opened.” In his non resident rupee (NRE) account at the Jammu and Kashmir Bank, he had received Rs 93, 87, 639 from 'unknown sources' from 2011 till 2013. He had also received foreign remittances in the sum of Rs 2.26 crore in different accounts in the bank from 2011 to 2016.
The agency are looking into bank accounts of Watali and other accused in terror funding case and how money was routed to them and then distributed for stone pelting. The agencies are now looking into the accounts in Jammu and Kashmir bank of the terror funding accused and how the funds were utilised. An FIR in terror funding matter was registered on May, 30 2017.
Known as accused number 10 in the terror funding case, Watali is involved in unlawful acts and terror funding in conspiracy with other accused persons. “He had acted as a conduit for transfer of funds received from terrorist Muhammad Saeed, ISI, Pakistan High Commission, New Delhi and also from a source in Dubai, to Hurriyat leaders/secessionists/terrorists; and had helped them in waging war against India,” stated an internal note on terror funding in the Ministry of Home Affairs (MHA).
The note further pointed that businesses of his, were just a front or sham for routing of funds received from abroad and terrorist, Pakistan High Commission and sources in Dubai.
“The balance sheets of accused's firms and companies named Trison Farms and Constructions Pvt. Limited, M/s Trison International, M/s Yasir Enterprises, M/s 3Y, M/s Kashmir Veneer Industries and M/s Three Star had also unaccounted transactions,” the note stated.
It stressed that Watali received remittances from NZ International Dubai FZC, owned by him; and that he did not even inform about the actual execution of business his company does.
The agencies are now looking each and every account of Watali and his firms. With fresh emergence of evidences, the National Investigation Agency, which had arrested Watali on August 17, 2018, will seek custody of him for further probe. Watali is currently languishing in jail for last two years. The agency on June 3, 2017 had searched Watali's house in Srinagar and seized incriminating documents pertaining to several financial transactions and land deals. The property documents seized have shown huge amount of cash transactions in sale and purchase.
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