NIA arrests two persons in cross LoC funding case

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National Investigation Agency (NIA) on Tuesday said that it arrested two accused persons involved in cross LoC trade and militancy funding case in Jammu and Kashmir.

According to a statement, issued to a local news agency, Kashmir News Observer (KNO), “NIA arrested two accused persons namely Tanveer Ahmad Wani s/o Ghulam Ahmad Wani of Pulwama and Peer Arshad Iqbal alias Ashu s/o Peer Gayasuddin of Baramulla in case RC-17/2016/NIA/DLI.”

The statement reads that the case pertains to the generation of extra profits through cross LoC trade mechanism between J-K and PoK and using of those funds for fomenting militant activities in J-K.

“The said trade was started in the year 2008 via two Trade Facilitation Centres (TFCs) located at Salamabad, Uri in Baramulla District and Chakan-da-Bagh in Poonch District. As per the SOP of the trade mechanism, 21 articles were allowed to be traded between POK and J&K and was based on barter system,” it reads.

It added that during investigation, it has been revealed that extra profit was generated by over-invoicing of export articles and under-invoicing of import articles by the traders.

“The arrested accused are cross-border LoC traders and were handling several cross LoC trade firms registered in their own names or in the names of their friends, family members, relatives etc,” it read.

It added that they used to provide funds to the members of various militant organisations, OGWs, stone-pelters etc. “Further investigation in the case continues.”. (KNO)

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