The Enforcement Directorate (ED) on Tuesday said that it recently conducted search operations in Ahmedabad in a case of illegal forex trading by TP Global FX, and seized cash totalling Rs 1.36 crore, 1.2 kg of gold, two luxury vehicles, including a Mercedes GLS 350D, worth Rs 89 lakh and various incriminating documents.
It said that a further Rs 14.72 lakh in a bank account was frozen.
The ED initiated a PMLA investigation based on an FIR registered under various sections of IPC by Kolkata Police against TM Traders and KK Traders.
“As per the Reserve Bank of India (RBI), TP Global FX is neither registered with RBI nor does it have any authorisation from the RBI for forex trading. The RBI also issued an Alert List including the name of TP Global FX , which was published to caution general public against unauthorised trading platforms,” the ED said.
The ED investigation revealed that Prasenjit Das, Shailesh Kumar Pandey, Tushar Patel and other persons, through various dummy companies, defrauded the public under the guise of making investments in forex trading. These funds were subsequently used in purchase of movable/immovable properties for personal gains/benefits of accused persons.
Earlier, the ED had arrested Pandey and Das, who are presently in judicial custody. It said that Rs 121.02 crore lying in bank accounts was frozen and properties worth Rs 118.27 crore, comprising flats, hotels and resorts, and vehicles were also attached.
Prosecution Complaints has been filed against Pandey and Das and trial is under progress.
