In connection with 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 includes three residential houses, one at Gupkar Road, Srinagar; one at Tehsil Katipora, Tanmarg, and one at Bhatindi, Village Sunjwan, (Jammu); commercial buildingsat 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.
As per press release of JKCA , Between years 2005 – 2006 to December 2011, JKCA received funding totaling 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. Investigation clearly brings out that Dr. Farooq Abdullah was instrumental as well as 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. 45 Crores 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 of the funds.
Further investigation is ongoing.
