Monday, September 24, 2007

Terror funds in Dalal Street?

from The Times of India

Intelligence agencies like the Research & Analysis Wing (RAW) have alerted the government and the Securities & Exchange Board of India (Sebi) about investments by Khalid bin Mahfouz — a prominent Saudi businessman alleged to have links with Osama bin Laden — in Indian companies through the stock market ... Khalid first came under the scanner following strong suspicion that he was siphoning off money from the National Commercial Bank and transferring it to trusts engaged in funding terror outfits. Khalid was also a director of BCCI International. The cicumstances leading to the shuttering of BCCI, which had allegedly become the conduit for Pakistan’s ISI as well as crime syndicates, had raised suspicion of diversion of funds ... the assessment of intelligence agencies has been backed up by independent investigations by the US which has, post-9/11, moved aggressively to choke the flow of funds to terrorists. An international vigil is on against Saudi-based Islamic charities.

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