How Saradha scam money fuelled terror activity in West Bengal

  |   01 November, 2014   |   677   |   3980

New Delhi: The bomb blast at Khagragarh village in Burdwan district and subsequent unearthing of bomb-making units in other districts in West Bengal have exposed a deadly cocktail of hawala operation, money laundering, and round-tripping of illicit money via tax havens and NGOs to fund terror operations in India and Bangladesh



Joint investigation by the National Investigation Agency, Enforcement Directorate, Intelligence Bureau and other central agencies has revealed how money collected from the poor in West Bengal through the Saradha ponzi scheme was transferred using the hawala channel to fund terror activities of Jamat-ul-Mujahideen Bangladesh (JMB). It also exposes the deadly nexus of a few local politicians, chit fund conmen and terror operatives.