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Enforcement Directorate (ED) has provisionally attached movable and immovable properties worth ₹118.27 crore belonging to Prasenjit Das, Shailesh Pandey, Tushar Patel, and their corporations in the case of illegal forex trading by TP Global FX.
The ED issued attachment orders Wednesday underneath the provisions of the Prevention of Money Laundering Act, 2002.
Shares, mutual funds, bonds, AIF/PMS, money mendacity in financial institution accounts, luxurious automobiles (MG Hector), flats, business enterprise locations, motels, and resorts have collectively been valued by the ED at ₹118.27 crore. An quantity of ₹121.02 crore was frozen by the company underneath the PMLA after finishing up searches at 180 financial institution accounts, the ED acknowledged.
“ED investigation has revealed that Prasenjit Das, Shailesh Kumar Pandey, Tushar Patel and different individuals by means of varied dummy corporations/corporations/entities managed and managed by them, defrauded the general public underneath the guise of making investments in forex trading through the use of the platform/web site of TP Global FX,” the company acknowledged in a press release.
Fund utilization
After gathering a considerable quantity, the funds have been layered and transferred to corporations/entities in which accused individuals/dummy individuals have been the director/proprietors with out the information/data of the gullible buyers, the ED charged.
Subsequently, such funds have been used in buy of movable/immovable properties for private features and advantages of accused individuals, the company identified.
Shailesh Kumar Pandey and Prasenjit Das have been arrested by the ED and each of them are presently underneath judicial custody.
ED took up the case from Kolkota police which had FIR registered underneath varied sections of the Indian Penal Code in opposition to M/s TM Traders and M/s KK Traders.
The RBI has additionally issued an alert record together with the identify of TP Global FX vide a press launch launched on September 7, 2022, to warning most of the people in opposition to unauthorised trading platforms.
This March, the federal government knowledgeable the Parliament that about ₹1.11 lakh-crore worth assets have been seized in the last six years by companies probing financial offences.
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