Mumbai: Police have dealt a severe blow to underworld don Dawood Ibrahim by exposing his designs to invest tainted money running into crores of rupees in real estate and busting his gang's distribution network of fake currency notes in the city and elsewhere at the behest of ISI, Police Commissioner, R S Sharma said in Mumbai on June 3.

Thirteen properties under development in South Mumbai had been identified by police in, which Dawood had invested money to channelise the flow of black money, Sharma told reporters.

Two of them had been attached by a special court while the rest were being taken up for attachment by the police, he said adding that Dawood's brother Iqbal was involved in the real estate deals of the underworld.

The police had almost put an end to the underworld operations with regard to extortions from Bollywood personalities particularly after the arrest of financier Bharat Shah and producer Nasim Rizvi. Thereafter, the don diverted his unaccounted wealth in the real estate.

As regards counterfeit notes, he said several members of his gang had been arrested for distributing fake currency and the government had introduced Maharashtra Control of Organised Crime Act (MCOCA) to curb such crimes.

PTI