ED Attaches Dr Farooq Abdullah’s Properties

SRINAGAR: The Enforcement Directorate on Saturday attached assets worth crores belonging to National Conference president Dr Farooq Abdullah in its ongoing investigation into allegations of corruption in the Jammu Kashmir Cricket Association.

File image of Dr Farooq Abdullah

Quoting officials reports said that the agency has issued a provisional attachment order under the Prevention of Money Laundering Act and the attached properties are located in Jammu and Srinagar.

Two immovable assets are residential, one is a commercial property while three other plots of land have also been attached by the Enforcement Directorate, they said.

While the book value of these attached properties is Rs 11.86 crore, their market value is about Rs 60-70 crore, they added.

Dr Farooq Abdullah is being investigated over allegations of misappropriating Rs 113 crore that was sent to the Jammu and Kashmir Cricket Association by the Board of Control for Cricket in India. The allegations pertain to a time when he was president of the association.

Dr Abdullah was questioned at least thrice by the ED within and outside Jammu and Kashmir in the case. Immediately it was not known which properties stand attached but reports appearing in media said his Bhathandi home, Katpora Tangmarg house and land and the commercial building the Suffering Moses on the Srinagar Bund stands attached.

Here is the statement from the investigation agency

“In connection with the laundering of funds of Jammu & Kashmir Cricket Association (JKCA) Enforcement Directorate has attached, under PMLA, properties of Dr Farooq Abdullah valued around Rs. 11.86 Crores.

The attached properties include three residential houses, one at Gupkar Road, Srinagar; one at Tehsil Katipora, Tangmarg, and one at Bhatindi, Village Sunjwan, (Jammu); commercial buildings at posh Residency Road area of Srinagar. Besides lands at four different places in J&K have also been attached. During investigations, it is disclosed that out of the aforesaid attached properties the residence & land of Dr Farooq Abdullah at Gupkar Road and commercial buildings at Residency Road, at prime upmarket locations, are basically State lands obtained on lease. It was also disclosed that the attached house at Bhatindi, Village Sunjwan, (Jammu) had been constructed by Dr Farooq Abdullah on State land and Forest land, where he has also grabbed State land and Forest land.

Between years 2005 – 2006 to December 2011, JKCA received funding totalling to Rs. 109.78from BCCI. Between years 2006 to January 2012, when Dr Farooq Abdullah was the President of JKCA, he misused his position and clout by illegal appointments of office bearer at JKCA to whom he gave financial powers for the purpose of laundering of JKCA Funds. The investigation clearly brings out that Dr Farooq Abdullah was instrumental as well as the beneficiary of the laundered funds of JKCA.

Despite existing regular bank account of JKCA, six new bank accounts were opened for parking of JKCA Funds and siphoning of the same. One dormant bank account in the name of Kashmir Wing of JKCA was also made operational for the same purpose.

During investigations so far it has surfaced that JKCA funds to the tune of more than Rs. 45Crores has been siphoned, which includes heavy cash withdrawals of around Rs. 25 Crores, with no corresponding justification. Investigations disclose that for the purpose of generation of proceeds of crime, JKCA funds were layered by way of complex interbank transfers in all the bank accounts of JKCA and also by transfer to several personal bank accounts, followed by siphoning off the funds.

Further investigation is ongoing.”

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