The Enforcement Directorate (ED) has arrested two people as part of its money-laundering probe in a case against two shell companies accused of being involved in illegal online forex trading. The case was registered under relevant sections of the Indian Penal Code by the Kolkata police against two firms, TM Traders and KK Traders.
“Investigation has established that Prasenjit Das and Shailesh Pandey defrauded the public by using the platform/website of TP Global FX, under the guise of making investments in forex trading,” an ED source said. Further, after collecting substantial amounts from the public in the accounts of these dummy firms, such funds were layered and transferred to companies in which the accused persons were the directors/proprietors, added the source.
The Reserve Bank of India had recently issued an updated list of entities that are not authorised to deal with forex transactions in India. It has over the past few months alerted people against trading forex on such dubious platforms.
