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7h ago

ED Attaches Rs 18.78 Crore in TP Global FX–IX Global Probe, Taking Secured Assets to Rs 291 Crore

The Kolkata ED unit acted under the PMLA in a case alleging an unregulated forex scheme previously flagged by the RBI.

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Overview

  • ED provisionally attached assets worth Rs 18.78 crore comprising residential flats, commercial spaces, fixed deposits and mutual funds.
  • With the latest action, seized, frozen and attached assets in the case now total about Rs 291 crore across cash, real estate, vehicles, gold, cryptocurrencies and bank balances.
  • The probe follows FIRs by police in Kolkata, Maharashtra and Gujarat naming TP Global FX, IX Global, IX Academy and related trading entities.
  • Investigators allege Prasenjit Das and Tushar Patel used dummy companies to lure investors, while IX Global figures including Viraj Suhas Patil and Joseph Martinez promoted TP Global FX.
  • Three prosecution complaints have been filed before the Special PMLA Court in Kolkata, and earlier arrests include Shailesh Kumar Pandey, Das and Patil.