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Home / India News / 2007 / May 2007 / May 5, 2007
US confirms JeM investing in commodity trading, real estates
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US confirms JeM investing in commodity trading, real estates

The recently released US State Department report on counter terrorism has confirmed that Pakistan based terrorist organisation like Jaish-e-Mohammad (JeM) has been investing in legal business activities like commodity trading and real estate.

By Sudhakar Jagdish

New Delhi, May 5 : The recently released US State Department report on counter terrorism has confirmed that Pakistan based terrorist organisation like Jaish-e-Mohammad (JeM) has been investing in legal business activities like commodity trading and real estate.

The 336-page report that gives details of the global terrorist activities states: "In anticipation of asset seizures by the Pakistani government, JeM withdrew funds from bank accounts and invested in legal businesses, such as commodity trading, real estate, and production of consumer goods."

During February 2007, National Security Adviser M K Narayanan had revealed that Pakistan based terror groups were investing in Indian stock exchanges, and had also named the Chennai and Mumbai stock exchanges, where the Indian intelligence found terror groups investing and manipulating the market to reap profit from it to finance their activities.

The 2006 -US State Department report then goes on to say that Al-Qaeeda is 'suspected of providing funding' to the JeM, which carried the December 2001 attack on the Indian Parliament.

The annual report indicts Pakistan government for failing to stop JeM activities.

"Jaish-e-Mohammed continues to operate openly in parts of Pakistan despite President Musharraf's 2002 ban on its activities. The group is well-funded, and is said to have tens of thousands of followers who support attacks against Indian targets, the Pakistani government, and the sectarian minorities," the report states.

JeM, founded by Azhar Masood after his 2000 release from India in exchange for 155 hijacked Indian Airlines hostages, has conducted many fatal terrorist attacks in Kashmir, including a suicide attack on the Jammu and Kashmir legislative assembly building in Srinagar in October 2001.

The group is also responsible for the 2002 abduction and murder of US journalist Daniel Pearl.

On terror activities perpetrated by Lashkar-e-Toiba (LeT), the report states that the group collects donations from the Pakistani expatriate communities in the Middle East and United Kingdom, Islamic NGOs, and Pakistani and other Kashmiri business people.

The report also states that LeT has several thousand members in Pakistan side of Kashmir and are active in the southern Jammu and Kashmir and Doda regions, and in the Kashmir Valley.

"Almost all LeT members are Pakistanis from madrassas across Pakistan or Afghan veterans of the Afghan wars.The group uses assault rifles, light and heavy machine guns, mortars, explosives, and rocket-propelled grenades," the report states.

On India's counter terrorism efforts, the report comes down heavily on India's judicial system.

It sates: "India's counter terrorism efforts were hampered by its outdated and overburdened law enforcement and legal systems," adding, "The Indian court system was slow, laborious, and prone to corruption; terrorism trials can take years to complete."

ANI

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