Fri Apr 18 17:09:10 UTC 2025: ## ED Seizes ₹30 Crore in Assets from Forex Scam

**Chennai, April 18, 2025** – The Enforcement Directorate (ED) has seized ₹30 crore worth of assets from a forex trading scam involving TP Global FX, a company found to be operating without authorization from the Reserve Bank of India (RBI). The seized assets include 60 hotel rooms and a vacant land at the Seven Hills Pamban Island Resort in Rameswaram.

The ED’s investigation, stemming from a Kolkata Police FIR, uncovered a sophisticated scheme orchestrated by Prasenjit Das, Tushar Patel, and Shailesh Kumar Pandey. The trio allegedly lured investors into a fraudulent forex trading scheme, promising high returns through TP Global FX. Further investigation revealed that IX Global directors Viraj Suhas Patil and Joseph Martinez promoted TP Global FX as their preferred broker, facilitating the scam.

Funds obtained through this scheme were used to purchase personal assets for Patel and his associates, laundered through dummy accounts and money changers. The ED has already arrested Pandey, Das, and Patil, and seized or frozen assets totaling ₹270 crore, including cash, real estate, and cryptocurrencies. Two prosecution complaints have been filed against the accused under the Prevention of Money Laundering Act (PMLA), with the special court in Kolkata taking cognizance of the offenses.

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