New Delhi, Dec 13 (NationPress) The Enforcement Directorate (ED) has executed comprehensive search operations across various states in connection with an ongoing investigation into money laundering tied to an extremist IS-linked terror module, officials confirmed on Saturday.

As reported by the ED’s Mumbai Zonal Office, operations took place on December 11 at 40 different locations across Maharashtra, Delhi, West Bengal, Jharkhand, Uttar Pradesh, Daman and Diu, and Ratnagiri.

Significant areas included the Padgha–Borivali region adjacent to Mumbai.

This operation was conducted under the Prevention of Money Laundering Act (PMLA), 2002, concerning a case involving Saquib Nachan and others connected with the ISIS-affiliated module.

During the searches, the agency confiscated movable assets estimated at around Rs 9.70 crore, which included cash of approximately Rs 3.70 crore along with gold jewelry and bullion valued at about Rs 6 crore.

Additionally, 25 bank accounts belonging to the accused and suspects were frozen. Investigators recovered digital devices, documents, and literature believed to promote radicalization.

Details regarding several immovable properties linked to the accused and related individuals were also seized during this extensive operation.

The ED commenced its investigation following FIRs and charge sheets filed by the National Investigation Agency (NIA) in case RC-29/2023/NIA/DLI, under various sections of the Indian Penal Code, the Unlawful Activities (Prevention) Act, and the Explosive Substances Act.

Investigations indicated that members of the module were allegedly involved in recruitment, training, procurement of weapons and explosives, as well as fundraising efforts to support terrorist operations.

Intelligence inputs from the Maharashtra Anti-Terrorism Squad suggested that individuals associated with this module were also involved in illegal revenue-generating activities, particularly the covert cutting, smuggling, and sale of Khair (Kaith) wood from protected forest areas.

The proceeds were suspected of being diverted to finance extremist activities.

"Given the seriousness of the offenses and the potential threat to national security, premises linked to the accused, their close associates, family members, and entities with financial connections or suspicious monetary transactions with the accused were searched under PMLA," the ED stated in a press release.

During the searches, suspected illegally obtained Kaith wood was found, prompting the ED to inform the relevant Forest Department officials for necessary action.

"During the investigation, details of Hawala operations were also uncovered," the ED noted.

"Further financial analyses revealed that various individuals connected to the Borivali-Padgha ISIS Module were involved in the illegal cutting and smuggling of Kaith trees from the reserve forest areas of the Padgha-Borivali region," it added.

The ED affirmed that investigations have also identified hawala transactions and financial connections between several suspects and the accused, with further exploration into the entire financial and operational network of the module ongoing.