The Enforcement Directorate (ED) on Tuesday said it has recently carried out search operations in 15 different banks in connection with its investigation into an illegal forex trading case.
The ED said that a total of 180 accounts were found involved in the layering of funds received from investors in the name of forex trading on TP Global FX platform.
“Subsequent to searches, an amount of Rs 121.02 crore in these bank accounts has been frozen under the provisions of the Prevention of Money Laundering Act,” said the official.
The ED initiated an investigation on the basis of the FIR registered under various sections of the IPC by the Kolkata Police against TM Traders and KK Traders.
As per the Reserve Bank of India (RBI), the website TP Global FX is neither registered with RBI nor does it has any authorisation from RBI for forex trading.
The RBI has also issued an ‘Alert List’ including the name of TP Global FX through an official press note in 2022, which was published to caution the people against unauthorised trading platforms.
The ED investigation has revealed that Prasenjit Das, Shailesh Kumar Pandey, Tushar Patel and other persons, through various dummy companies controlled and managed by them, defrauded the public under the guise of making investments in forex trading by using the website of TP Global FX.
“Further, after collecting substantial amounts from the public in the accounts of these dummy firms, such funds were layered and transferred to companies in which the accused were the directors and subsequently such funds were used for the purchase of movable, immovable properties for personal gains of the accused,” said the ED.
Earlier, during the investigation, two accused — Shailesh Kumar Pandey and Prasenjit Das were arrested by the ED. Another accused, Tushar Patel is on the run.
