Crime will reduce in Mumbai, as Dawood will be forced to shut most businesses and stop flow of money from desert city, says top cop
Crime will reduce in Mumbai, as Dawood will be forced to shut most businesses and stop flow of money from desert city, says top cop
There's one positive aspect to emerge from Dubai World's multi-billion debt crisis Mumbai will witness fewer instances of crime.
Joint Commissioner of Police (Crime) Rakesh Maria said, "The crash of the Dubai World will indirectly help reduce crime in Mumbai, as don Dawood Ibrahim and hawala channels will see a drastic reduction in their business."
He added, "Dawood will be forced to issue pink slips to his lieutenants, who have been acting as his front in Dubai.
u00a0
|
|
TOUGH TIME: The crash in Dubai World may shrink Dawood's businesses to less than 50 per cent. |
Most of them have small businesses, which are in the process of shutting down, due to the crash."
Dawood has investments to the tune of around Rs 3,500 crore in Dubai.
The crash is likely to shrink his businesses to less than 50 per cent. A source explained, "The crash is expected to affect the exchange rates in Dubai, which, in turn, will hit hawala-related activities."
Sources in the central intelligence informed that Dawood had been part of Pakistani ISI's 16 stations operating from Dubai to support operations across the globe.
According to sources, "Investigations by the Crime Branch have indicated that at least three terror cells responsible for blasts in Mumbai received funds routed through Dubai.
Officials suspect the sources of funds could now dry up."
Police speakA senior Crime Branch officer said, "Some builders and film producers owing allegiance to the D Company may find their resources restricted. Dozens of slum redevelopment projects could also be affected due to shortage of funds.
At least three large construction companies receive finances from the underworld in Dubai. Their projects could be seriously affected."
Dubai CrisisGlobal financial markets plunged on Thursday after Dubai World, the government investment firm burdened with US$59 billion liabilities, requested for deferment of the debt.
The Asian markets were battered badly by the crisis with the shares of financial institutions and real estate sector tanking the most.
50The position occupied by Dawood in Forbes magazine's list of most powerful people
Rs 3,500 Cr
Estimate of Dawood's u00a0investments in Dubai
