A report by Indian Express According to this, the details of the transactions of Khanani’s Money Laundering Organization (MLO) and Al Jaroni Exchange are in this SAR. For decades, Khanani transferred an estimated $ 14 billion to $ 16 billion to the drugs cartel and terrorist organizations such as al-Qaeda, Hizbul and the Taliban.
Al-Zaruni runs a money laundering network under the name Exchange
According to the report. Altaf Khanani is running a money laundering network under the name Al-Zaruni Exchange. The people of Khanani used many avenues to transfer money from one country to another. The amount of gold or diamond that was required to be transported was purchased. Then he would be transported to that country through smuggling or by flight. Wherever delivery took place, the gold or diamond would be sold and the money would be sent directly to the customer.Dawood arrested in US has relationship with financier, Al-Qaeda and Jaish-e-Muhammad
Arrested at Panama Airport on 11 September 2015
Khanani was arrested from Panama Airport on 11 September 2015 and has been in Miami jail since then. Altaf Khanani, a close aide of India’s most underworld don Dawood Ibrahim, was sentenced to 68 months by a US court. His custody is over on July 2020. He has then been handed over to the US Immigration Authority for a report. However, it is not yet clear whether Khanani will be sent to Pakistan or Saudi Arabia.
Notice issued on relationship with Dawood
The US Office of Foreign Assets Control issued a notice at the time of Khanani’s arrest regarding his relationship with Dawood Ibrahim. It reads – ‘Altaf Khanani’s network MLO has leveraged its relationships with financial institutions to create a billion dollar empire on behalf of terrorists, drug traffickers and criminal organizations. Altaf Khanani arranged funding for the Taliban. It also strengthened its relationship through funding with Lashkar-e-Taiba, Dawood Ibrahim, Al-Qaeda and Jaish-e-Mohammed and took full advantage of it. ‘
On October 10, 2016, a year after the original notice, another list of individuals and institutions was released for Khanani and his links. Some people were members of Khanani’s family, mostly living outside Pakistan. The organizations whose name came up, were also running outside Pakistan.
There is a business of billions in these countries
The Khanani Group conducts illegal transactions of billions of dollars annually for organized crimes between Pakistan, United Arab Emirates, US, UK, Canada, Australia and other countries. Among his clients are organized crime groups from China, Colombia, Mexico and people associated with Hezbollah.