On April 6, 2023, the Directorate of Enforcement (ED) filed a Prosecution Complaint before the Hon’ble Special Judge (PMLA), Kolkata, alleging that Prasenjit Das and Shailesh Pandey engaged in illicit Forex Trading by “TP Global FX” in violation of the Prevention of Money Laundering Act, 2002 (PMLA). On 6/4/2023, the Honourable Special Court (PMLA), Kolkata, took cognizance.
The ED’s investigation was built on the FIR that the Kolkata Police filed against M/s T M Traders and M/s K K Traders under numerous IPC sections. The Reserve Bank of India (RBI) claims that TP Global FX neither has an account with it nor has been given permission by the RBI to conduct foreign exchange trading. The RBI also issued an Alert List, which names TP Global FX, in a news release dated September 7, 2012, to caution the public against utilising unregulated trading platforms.
According to an investigation by the ED, Prasenjit Das, Shailesh Kumar Pandey, Tushar Patel, and other individuals defrauded the public by using the platform and website of “TP Global FX” to make investments in “forex trading” through a variety of fictitious companies, firms, and entities that they controlled and managed. Further, these funds were layered and transferred to companies/entities in which accused persons/dummy persons were the director/proprietors without the knowledge/information of the gullible investors and later used in the purchase of movable/immovable properties for personal gains/benefits of accused persons after substantial sums of money were collected from the public in the accounts of these dummy firms/entities.
Shailesh Kumar Pandey and Prasenjit Das were both taken into “Judicial Custody” after being apprehended throughout the course of the inquiry. 180 bank accounts that the accused controlled and managed were subject to search and seizure, and a total of Rs 121.02 crore was frozen in those accounts. Under Section 5 of the PMLA, moveable and immovable properties worth Rs 118.27 crore were temporarily attached. These properties included shares, mutual funds, bonds, insurance, balances in bank accounts, residential apartments, commercial business locations, hotels, and resorts. In the aforementioned prosecution complaints, confiscation requests have been made for all confiscated, frozen, and temporarily attached property. It has been requested that Rs 253.68 billion be forfeited. Further research is now being conducted.
