In a significant development, the Enforcement Directorate (ED) has apprehended Viraj Patil, a key accused, in connection with a money laundering investigation targeting a firm allegedly engaged in illicit forex trading. Patil, who has reportedly resided in Dubai since 2021 and holds a Resident Identity Card, was taken into custody by the ED.
The firm under scrutiny, TP Global FX, lacks registration with the Reserve Bank of India (RBI) and lacks authorization for forex trading transactions, as per RBI records. The central bank issued a press release on September 7, 2022, including TP Global FX in an Alert List, cautioning the public against engaging with unauthorized trading platforms.
Presented before a magistrate court in Kolkata, Patil has been granted ED custody until January 2, 2024.