SIA raids unearth Rs 85 crore illicit funding network in Srinagar and Delhi

SRINAGAR — In a major crackdown on illicit funding, the State Investigation Agency (SIA) conducted simultaneous raids at five locations in the summer capital of Srinagar and Delhi on Friday. The raids are linked to an ongoing investigation into a ‘terror funding’ case, news agency KDC quoted a top official as having said.

According to the official, SIA raided two locations in Srinagar, specifically Saidapora Eidgah and Ahmadnagar areas. Meanwhile, in Delhi, the agency initiated searches at three separate locations.

The investigation revolves around the illegal raising, layering, and laundering of substantial proceeds of crime, believed to have been utilized in activities such as secessionism and militancy.

The SIA Kashmir registered a case at Police Station SIA Kashmir after an extensive probe into the matter. The official disclosed that the case, identified as FIR No. 08 of 2023, is under investigation, focusing on the intricate network involved in the unlawful activities.

During the course of the inquiry, shocking revelations emerged, indicating that a colossal amount of Rs 85 crores had been illicitly raised and laundered within a brief period of less than two years. The gravity of the case underscores the potential impact on national security and the funding of activities detrimental to public order.

The SIA continues its relentless pursuit of the perpetrators behind this extensive network, with further investigations underway.