ED takes possession of properties of a resort in Rameswaram
The Hindu
ED Kolkata seizes assets worth ₹30 crore in TP Global FX fraud case; arrests made, prosecution complaints filed
The Directorate of Enforcement (ED), Kolkata, has taken possession of attached immovable properties worth ₹30 crore, including 60 hotel rooms and a vacant land at Seven Hills Pamban Island Resort, Rameswaram, in the case of M/s. TM Traders and M/s. KK Traders (TP Global FX), under the Prevention of Money Laundering Act (PMLA).
The ED initiated the investigation on the FIR registered by the Kolkata Police against TP Global FX under various Sections of the Indian Penal Code, 1860. The Reserve Bank of India (RBI) had said the website of TP Global FX was neither registered with it nor did the company have its authorisation for forex trading.
The ED investigation revealed that Prasenjit Das, Tushar Patel, and Shailesh Kumar Pandey had orchestrated a sophisticated deception by using dummy companies to entice investors into a fraudulent scheme, promising them high returns on forex trading investment through TP Global FX. Additionally, the directors and promoters of IX Global, namely Viraj Suhas Patil and Joseph Martinez, promoted TP Global FX as their preferred brokers. Members and users of IX Global hired the brokerage services of TP Global FX for their forex trading.
The funds gathered from investors were diverted for purchase of personal assets in the names of Tushar Patel and his associates. This was accomplished through complex methods, including by funnelling money through dummy accounts and engaging the services of full-fledged money changers (FFMCs). The ED had arrested Shailesh Kumar Pandey, Prasenjit Das, and Viraj Suhas Patil, and seized/frozen/attached assets worth ₹270 crore, including cash, real estate, hospitality establishments, office space, land, vehicles, crypto-currencies, and bank balances.
Two prosecution complaints have been filed against the arrested persons before the special court for the PMLA cases, Kolkata. The court has taken cognizance of the offence of money-laundering.
Bengaluru commuters demand platform screen doors for safety, but high costs and engineering challenges hinder implementation on existing metro routes.
Madras HC to hear appeals on December 12 regarding the lighting of Mahadeepam at Thirupparankundram temple.
N. Ram warns that hate politics threatens India’s democracy, urging the South to remain a bastion against these forces.
Nanjil Sampath joins Vijay's Tamilaga Vettri Kazhagam, revitalizing his political career after six years away from party politics.
D.K. Shivakumar announces that five Blue Line stations will open once construction is completed, enhancing Bengaluru's airport connectivity.
Russia begins fuel shipments for Kudankulam's third reactor, enhancing efficiency and extending operational cycles for the nuclear power project.
Supreme Court urges governments to simplify administration, warning that excessive rules may lead to judicial review and citizen burdens.
Trinamool MP Shatabdi Roy's remarks on Bangla-speaking deportations spark protests in Lok Sabha, igniting a heated political debate.
Sunali Khatun returns to India with her son after six months in Bangladesh, following Supreme Court intervention.
Warangal will be developed on the lines of Hyderabad, says Revanth
Three-tier security measures and traffic restrictions are in place for the India-South Africa ODI match in Vizag.
A seven-year-old girl dies from severe dengue shock syndrome in Bengaluru, highlighting the challenges faced by migrant families in healthcare access.
DGP reviews security arrangements for Global Summit