ED initiated investigation on the basis of FIR registered by Kolkata Police under various sections of IPC
FinTech BizNews Service
Mumbai, December 28, 2023: Directorate of Enforcement (ED) has arrested one of
the key accused “Viraj Suhas Patil” from Mumbai on 25/12/2023 under the provisions
of Prevention of Money Laundering Act, 2002 (PMLA) in the case of illegal Forex
Trading by “TP Global FX”. Viraj Suhas Patil has a Resident Identity Card of UAE
and is staying there permanently since 2021. He was produced before the Hon’ble
CMM Court, Kolkata, which has granted his custody to ED till 02.01.2024, as per the
Press Release issued by the ED.
ED initiated investigation on the basis of FIR registered by Kolkata Police under
various sections of IPC, 1860 against M/s TM Traders and M/s KK Traders. As per
Reserve Bank of India (RBI), TP Global FX is neither registered with RBI nor has any
authorisation from RBI for legal forex trading. The RBI has also issued an Alert List
including the name of TP Global FX (vide press release dated 07.09.2022), which
was published to caution general public against unauthorised trading platforms. ED
investigation revealed that Prasenjit Das, Shailesh Kumar Pandey, Tushar Patel and
other persons used various dummy companies/firms/entities to defraud the public
under the guise of making investments in forex trading by using the platform/website
of TP Global FX. These illegally acquired funds were subsequently used to purchase
movable/immovable properties for personal gains/benefits of the accused persons.
The members/users of “IX global” used the brokerage services of TP Global FX to do
their forex trading. “IX Global” obtained / derived Proceeds of crime in promoting TP
Global FX and Viraj Suhas Patil is one of the key persons in “IX Global”.
Earlier, ED had arrested Shailesh Kumar Pandey and Prasenjit Das in this case.
Both are presently under Judicial Custody in the Alipore Jail, Kolkata. Further, Rs
121.16 Crore was frozen (balance in various Bank Accounts) and Properties worth
Rs 121.23 Crore in the nature of cash, gold, Flat, Hotel and Resorts & Vehicles, were
attached in this case. Prosecution Complaints have also been filed against Shailesh
Kumar Pandey and Prasenjit Das and Cognizance of the offence of money
laundering has been taken by Hon’ble Special Court (PMLA). Further investigation is
under progress.
