Dawood Ibrahim’s latest business interest is `blood diamonds`

Underworld don and 1993 Mumbai blasts mastermind Dawood Ibrahim, who is known to have interests in real estate, money laundering and illegal financial services, is now in the business of `blood diamonds`.

Updated: Aug 30, 2015, 21:19 PM IST
PlayDawood Ibrahim’s latest business interest is `blood diamonds`

New Delhi: Underworld don and 1993 Mumbai blasts mastermind Dawood Ibrahim, who is known to have interests in real estate, money laundering and illegal financial services, is now in the business of `blood diamonds`.

According to The Times of India, National Security Adviser Ajit Doval had asked intelligence agencies to `pinpoint` Dawood's businesses in a bid to freeze the don's assets.

In a dossier created by the investigators, the officials have stated that the current focus of Dawood's businesses is to promote and expand the business of conflict diamonds in Africa and Dubai, said the daily.

Blood diamonds (also called conflict diamonds) is a term used for diamonds mined in a war zone and sold to finance an insurgency.

Blood diamonds have largely been blacklisted in the diamond markets across the world.

The dossier details Dawood's numerous links to countries such as Zimbabwe and Kenya and the way in which the D-company acquires diamonds abroad and smuggles them into Dubai.

The investigators have found out that Dawood's Dubai-based company, called Al Noor Diamonds, is a front for this illegal trade in blood diamonds.

"On each trip, diamonds worth around USD 5 to 10 lakh are smuggled into Dubai and the African courier is paid USD 10,000 as his courier fee," reads the dossier.

The investigators are now investigating the Indian link of the syndicate. Notably, India is a major processor of diamonds; almost 10 of every 11 diamonds that are sold across the globe are cut and polished in the country.

Dawood is on top of the most wanted list in India.