Indore: Former national chief of the Students of Islamic Movement of India (SIMI) Muneer Deshmukh, who was arrested in Bhopal in November 2010 and is on bail since July 14 last year, is suspected to have parked money in foreign stocks.

Enforcement directorate sleuths have traced around 50,000 USD suspected to have been deposited in the account of Deshmukh’s mother, Mehrunisha.

“The account has been seized and we are investigating the matter,” said sources. The money landed in the account from some investment in stocks made in the US.

Sources in the intelligence department in Bhopal said that Muneer had embezzled the money procured in the name of Zakat for SIMI. The matter surfaced when the SIMI was split in two parts.

Muneer, who was arrested by MP Anti-Terrorism Squad (ATS), carried a reward of Rs 15000 on his head. He went underground after the SIMI was banned in 2001. He is a postgraduate in environmental sciences and worked as a scientist in MP Pollution Control Board.

Later, MP high court granted him bail after a witness turned hostile and said Deshmukh was a good- natured person and was not involved in anti-national activities.

The court said police failed to produce concrete evidence against the accused. The few witnesses gathered by the police either turned hostile or failed to appear before the court.