Powered by free wordpress themes

Sunday , November 18 2018
Home / India Military News / NIA: Maoists bury money in forests, invest in realty

Powered by free wordpress themes

NIA: Maoists bury money in forests, invest in realty

NIA: Maoists bury money in forests, invest in realtyNEW DELHI: When it comes to stashing large caches of cash, Maoists prefer traditional methods, wrapping currency wads in layers of polythene, placing the hoards in metal boxes and concealing them in pits in remote forest areas, a National Investigative Agency (NIA) probe has revealed.

A six-month long NIA investigation has thrown up details of Maoist funding operations in 90-odd districts affected by violent Left wing extremism with the agency also tracking investments in real estate, bullion and business and money even being spent on education of children of top leaders.

The NIA investigation is expected to set the stage for a massive crackdown on Maoist leaders, their “overground” sympathisers, fund managers and businesses run by them through proxies. It is already probing around 10 cases of LWE “terror funding” for past several months and many people have been questioned.

red

According to a conservative estimate by different agencies, Maoists could be accessing funding of Rs 100 to Rs 120 crore every year. However, NIA is still trying to ascertain estimates.

Maoists have parked money in several ways. In some cases, money is left with the source itself and collected when required; large amounts are secreted in forest areas and in some cases with front-men. NIA says Maoists are spending the funds by investing into gold biscuits, fixed deposits and purchase of real estate. Explaining the modus operandi, NIA asserts “the money is given to real estate agents, who are perhaps trustworthy former radicals or cadre, who invest and return the money to Maoists as and when demanded”.

NIA says LWE groups extort money from individuals, small businesses, tendu patta contractors, government work contractors working on roads, bridges, and schools. And in the coal and steel producing areas, owners of stone crushers, transporters and local contractors. Then there are “membership fees” gathered from villagers, details accessed by TOI said.

Check Also

Army chief visits Central Command HQ at Lucknow

Army chief visits Central Command HQ at LucknowLUCKNOW: Army chief General Bipin Rawat on Saturday …

Leave a Reply