SIA conducts searches across J&K in militancy financing case through Bitcoin trade

 Srinagar, Aug 03 (KNS): SIA of J&K Police on Wednesday conducted searches at multiple locations across J&K in a case related to militancy financing through Bitcoin trade in Jammu and Kashmir. 

According to a statement, issued to Kashmir News Service (KNS), house premises of suspects in Mendhar, Poonch, Baramulla, Kupwara and Handwara were searched in connection with investigation of case FIR No.12/22 U/S 18, 38, 39 UA (P) Act, 120-B, 121,121-A IPC registered in Counter Intelligence Police Station in Srinagar.

The statement reads that the case pertains to militancy financing via Bitcoin trade. 

“Details that are being investigated into at the initial stage include a mastermind in Pakistan who with active support of Pakistani intelligence agencies and in connivance with proscribed militant organization(s) based in Pakistan has been pumping slush money to their agents in J&K for further distribution among militant organisation(s), secessionist(s) for fueling mass violence and militant activities in J&K,” it reads.

It reads that the Pakistani mastermind has been comprehensively identified and his particulars, however, are being kept confidential because other agents connected with him are not alerted.

“Houses of those which were searched today include Zahida Bano D/O Mutwali Pathan / Khan of Kupwara, Gh. Mujataba Deedad S/O Gh.Nabi of Kupwara, Tamjeeda Begum W/O Javid Ahmad Chachi of Handwara, Yasir Ahmad Mir S/O Shamas-ud-Din Mir of Baramulla, Mohammad Sayed Masoodi S/O Sharief- ud-Din of Baramulla, Farooq Ahmad of Poonch and Imran Chowdhary of Mendhar,” it reads.

It added that preliminary investigation revealed evidence that the dirty money originating from Pakistan has reached these persons. 

“The transfer of money has been layered to prevent backward tracing of its origin, the investigation has revealed. While several accounts-in-the-middle that have been used to layer the money are outside J&K, the effective whitewashing of the Pakistani money has taken place through exploitation of loopholes in the international bitcoin trade.”

It further reads that during searches conducted today, incriminating material believed to be hidden in digital devices, SIM cards, Mobile Phones and documents, having a bearing on the investigation have been recovered and seized.

“Analysis of the data and questioning of suspects would follow and leads that would emerge would become the basis of further investigation,” it added. (KNS)

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