New Delhi, Feb. 25: Cash-rich Ulfa is bankrolling political parties in poll-bound Bangladesh with over $6 million of extorted money, according to a report by US think tank Strategic Foresight Inc (Stratfor).

Describing Ulfa commander-in-chief Paresh Barua as “an enormously wealthy racketeer worth approximately $110 million”, the report says at least 15 election candidates belonging to both the Bangladesh Nationalist Party and the Awami League have been beneficiaries of the militant group’s largesse.

Stratfor, which specialises in global intelligence, analysis and forecasting, claims that Ulfa is “hedging its bets in order to protect its militant and business operations in Bangladesh, should either party win”.

The Ulfa chief, the report says, has business operations throughout India, Bangladesh and the Persian Gulf, “including hotels, consulting firms, driving schools, tanneries, department stores, textile factories, travel agencies, investment companies, shrimp trawlers and soft drink factories”.

Ulfa is more than willing to spare money for political parties of Bangladesh to ensure that it continues to be “under the protection of its political allies in Dhaka”.

The militant group’s core leadership is believed to be living in luxury in that country for 15 years now.

“As long as Ulfa can continue funding the appropriate candidates, it can ensure that the Bangladesh government will resist caving in to Indian demands to crack down on the militant group,” the Stratfor report states.