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‘ULFA chief invested millions in Bangladesh cos’

Last Updated: Sunday, September 25, 2011 - 10:50

New Delhi: Elusive ULFA military chief
Paresh Baruah, who is opposed to peace talks with the
government, invested millions of US dollars in several
Bangladeshi companies having interests in real estate,
shipping, textile, power and medical care.

In a classified report, security agencies also said he
receives USD 1.5 million every quarter as remittances from
these businesses and an additional USD 5,00,000 every quarter
through Western Money changer from other sources.

The report said Baruah invested USD 14 million in three
Dhaka-based real estate firms -- Basundhara Real Estate,
Eastern Housing Project and Jamuna Group Housing Project -- in
the name of one Karujjaman, a London-based businessman.

In Basundhara Real Estate, Baruah invested USD 7
million, which is 17 per cent of the company`s total share.

While in Eastern Housing Project Baruah invested USD 4
million, which is nine per cent of the total share, in Jamuna
Group Housing Project the ULFA leader invested USD 3
million, which is two per cent share of the company.

The report was prepared following a three month-long
investigation on Baruah`s illegal transactions and business
activities in Bangladesh.

Sources said the National Security Intelligence (NSI) of
Bangladesh and the National Board of Revenue, Bangladesh have
reportedly kept these companies under their radar and are
contemplating action against them.

The NSI has also reportedly brought the issue of Baruah`s
illegal activities to the notice of the highest level of the
Bangladesh government.


First Published: Sunday, September 25, 2011 - 10:50

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