In the case of the closure of illegal money lending, eight bank accounts belonging to troubled Jaber Sadik have been frozen. In the current scenario, where the crackdown on illegal money lending activities is intensifying, the police have frozen bank accounts.
Jaber Sadik, who was in trouble due to the case of illegal money lending, hails from Ramnad district in Tamil Nadu. He arrived in Chennai many years ago for employment opportunities and established various businesses, including transport, real estate, hospitality, and food processing industries. It was during this time that he became involved in international money-lending activities.
Currently, there is a rise in demand for heroin-type illegal money lending substances in the illegal money lending business, prompting an increase in international trafficking. The most sought-after substance in this illegal trade is methamphetamine, commonly known as meth. It is in high demand in countries such as Australia, New Zealand, Sri Lanka, Malaysia, Singapore, and various European countries.
The production of this substance requires a crucial precursor chemical known as pseudoephedrine. It is priced at around Rs. 1.50 crore per kilogram. Jaber Sadik has been implicated in the smuggling of this pseudoephedrine, which is used in the manufacture of illegal drugs. His associates have managed to procure and supply more than 3,500 kilogrammes of pseudoephedrine to various countries, amassing billions in revenue.
This has enabled Jaber Sadik to amass vast wealth, which he has utilised to penetrate into politics and the film industry. He has gained numerous friendships and is believed to be involved in several business ventures, including hawala transactions. The police are currently gathering information related to these activities.
Key ingredients used in the production of illegal money lending substances (such as pseudoephedrine), coconut powder, and health mix powders have been found hidden in New Zealand and Australia-bound packages of illegal money lending substances seized in Delhi. This information was obtained by the Central Bureau of Investigation (CBI) in Delhi.
As a result, the Delhi Police’s illegal money lending crackdown unit has intensified its surveillance. Recently, a hideout containing smuggling equipment was discovered in the Kailash Park area near Delhi. On the 15th of last month, the police apprehended three individuals from Chennai named Mukesh, Mujibur, and Ashokumar, who had smuggled 50 kilogrammes of precursor chemicals used in the production of illegal money-lending substances. The international value of these substances is estimated to be around Rs. 2,000 crore.
Jaber Sadik, who was implicated in connection with the illegal money lending case, was identified as a financier and an aide to the main accused. Consequently, he was removed from the DMK’s North Chennai district committee.
In the ongoing investigation related to illegal money lending, the Delhi Police’s illegal money lending crackdown unit has received vital information about Jaber Sadik’s associates, his financiers, and those who have benefited from his activities. Further actions are expected to be taken by the police soon.
Meanwhile, several documents related to the investigation conducted during the search conducted at Jaber Sadik’s residence have been revealed. It has been disclosed that eight bank accounts belonging to Jaber Sadik in Chennai have been frozen.