Overview

• The ED conducted coordinated raids in five cities, including Mumbai, Bengaluru, and Kolkata, targeting TP Global FX and IX Global under the Prevention of Money Laundering Act (PMLA).
• Assets worth approximately ₹1.56 crore, including foreign currency, gold bullion, and bank balances, were seized during the latest operations.
• The investigation revealed a fraudulent scheme orchestrated by Prasenjit Das and Tushar Patel, who used dummy companies to lure investors with promises of high forex trading returns.
• Directors and promoters of IX Global, Viraj Suhas Patil and Joseph Martinez, were found to have actively promoted TP Global FX as a preferred broker for forex trading activities.
• The ED has filed prosecution complaints against key accused individuals, with the Special PMLA Court taking cognizance of the money laundering charges.