LTTE terror funded through Indian stock markets
INDIA: India has seen terrorist groups, including the LTTE,
manipulating its stock markets, including the benchmark Mumbai bourse to
raise funds, National Security Adviser M.K. Narayanan has said.
“Isolated instances of terrorist outfits manipulating the stock
market to raise funds for their operations have been reported,”
Narayanan said at a security policy conference in Munich on Sunday.
His speech was only made available in India on Wednesday.
Narayanan said Islamist militants, who have launched attacks in India
killing hundreds of people, as well as Sri Lanka’s LTTE had in part
funded activities through legitimate businesses, including restaurants,
real estate and shipping.
“Stock exchanges in Mumbai and Chennai have, on occasions, reported
that fictitious or notional companies were engaging in stock market
operations. Some of these companies were later traced to terrorist
outfits,” Narayanan added.
He also said militants’ money transfers had been noticed.
“Many instances of funds received via banking channels from so-called
safe locations such as Dubai and UAE (United Arab Emirates) intended for
terrorist organisations have been detected by Indian counter-terrorist
agencies.”
The last major attack in India was in July last year when bombs
planted on local trains and at rail stations in Mumbai exploded, killing
186 people.
India has banned many terrorist groups including the LTTE, which has
been accused of assassinating former Prime Minister Rajiv Gandhi. The
Indian Coast guard recently arrested five men, including three Sri
Lankan nationals, when they were intercepted transporting weapons and
explosives in a boat.
New Delhi, Thursday, Reuters |