The Enforcement Directorate’s Kolkata Zonal Office has submitted the third supplementary chargesheet involving Tushar Patel and five others to a Special Court under the Money-Laundering Act. This action is part of the ongoing probe into the TP Global FX/ IX Global case. The accused individuals, including Patel, are currently evading the law after Non-Bailable Warrants were issued against them.
Tushar Patel, identified as the mastermind behind the TP Global Forex trading scam, illicitly amassed over Rs 2000 crore from the public in the guise of forex trading. The funds were funneled through dummy bank accounts set up with the help of associates like Prasenjit Das and Shailesh Pandey. Despite being summoned seven times during the investigation, Patel has chosen to remain in hiding, failing to comply with the legal summons.
The investigation into TP Global FX/ IX Global was initiated by the Enforcement Directorate following FIRs lodged by Kolkata Police, Maharashtra Police, and Gujarat Police against entities like Ms T M Traders, M/s K K Traders, TP Global FX, IX Global, and IX Academy Pvt Ltd. The Reserve Bank of India has confirmed that TP Global FX’s website is not registered with the RBI and lacks authorization for forex trading. Last year, the RBI issued an Alert List cautioning the public against unauthorized trading platforms, including TP Global FX.
A detailed probe by the Enforcement Directorate uncovered a sophisticated fraud scheme orchestrated by individuals such as Prasenjit Das and Tushar Patel. They used multiple dummy companies to lure investors with promises of high returns on forex trading investments through TP Global FX. The total value of assets seized, frozen, or attached in the case amounts to approximately Rs 291 crore, encompassing cash, gold, real estate, hospitality properties, office spaces, agricultural land, vehicles, cryptocurrencies, and bank balances.
