Bengaluru, July 21: Dawood Ibrahim is more than just a drug lord for the Paksitanis. The former Chief of the Research and Analysis Wing, C D Sahay had said in an interview with OneIndia recently that he had been upgraded to the status of a strategic asset by Pakistan.
It is not just his blood money earned through drug and arms deals that help Pakistan fund its terrorist groups, but he is also a major player in the stock market. A thorough investigation coupled with interception of intelligence would show that he has at least 4,500 crore parked in both the Karachi and Indian stock markets.
When the Intelligence Bureau and the police questioned an accomplice of Dawood Ibrahim back in 2008, it was indicated that the don and 1993 Mumbai serial blasts accused had become a major player in the stock market at Karachi. The operative, Karimullah Khan now aged 53 had told the police that Dawood had begun investing the Karachi stock market since 2005 itself. The police had found that Dawood had become a major player in the stock market at Karachi.
His investments in Karachi alone could be around 3,000 crore, the police and the Intelligence Bureau had also learnt. The rest of the 1,500 crore is parked in various benami names in the Indian stock markets, the IB also says.
Parking the money strategically:
Dawood has not parked the money in his name in any of the stock markets. He has used various techniques to park his ill-gotten wealth in the markets. In Karachi he has unleashed his men to trade in stocks and today is one of the biggest players. However he has absolute control over the money that is parked in the market.
In the Indian markets too he has adapted a similar style. He has several of his men who are established stock brokers. The money is very often either invested or loaned to stock brokers. The intention is to keep the money rolling and pulled out when the need be.
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The money is most of the time in circulation in the markets. However there are times when the same is pulled out in a bid to invest it in property in Karachi, Lahore, Dubai and also India.
Blood money in the markets:
All the money that Dawood earns is either through the sale of drugs or arms. This are the major money spinners for the D company. The drug trade continues to flourish like never before and the millions of dollars that Dawood earns is parked into the stock markets.
Most of the money that is parked in the markets get a legitimate tag and do not often come under scrutiny. The money is never parked in his name or any of his known accomplices. There are various operators in the markets in Karachi and Mumbai who are willing to park the don's money for a marginal fee. Most of them either are paid handsomely or do it just out of fear, an IB official also informed.
In addition to parking his own money, the D gang has also managed to set up a well networked mechanism in the markets. There is a great deal of black money is which is wired off to the D network through hawala deals. This money is very often parked on behalf of oil magnets from the Gulf by the D company, investigations had also revealed.