ED Uncovers ₹95 Crore Foreign Funding Network Linked to TTI
Probe flags ATM cash withdrawals via foreign cards; links under scanner in Maoist-hit regions
- Enforcement Directorate detects ₹95 crore inflow via foreign debit cards
- 25 foreign cards, ₹40 lakh cash seized in multi-state raids
- Transactions traced to LWE-affected areas including Bastar
- Role of The Timothy Initiative under investigation
GG News Bureau
New Delhi, 25th April: The Enforcement Directorate (ED) has uncovered an alleged foreign funding network involving large-scale cash withdrawals through foreign-issued debit cards, with nearly ₹95 crore suspected to have entered India over the past few months.
The investigation is linked to The Timothy Initiative (TTI), with agencies probing the possible use of funds in Maoist-affected regions and other activities under scrutiny.
Officials said coordinated searches were conducted across multiple states, leading to the seizure of 25 foreign bank debit cards, ₹40 lakh in cash, electronic devices and documents. The cards are reportedly linked to overseas bank accounts, primarily based in the United States.
According to investigators, the operation involved withdrawing cash from ATMs across India to bypass formal financial channels, creating what agencies describe as a “parallel cash system”.
A portion of the funds has been traced to Left Wing Extremism-affected regions, including Bastar in Chhattisgarh, where significant withdrawals were reported. Agencies are examining whether the funds were used to support activities in these areas.
The ED is also investigating whether TTI India complied with regulations under foreign funding laws, as officials flagged concerns over its registration status.
In a key development, an accused identified as Micah Mark was intercepted at Bengaluru airport under a lookout circular. Officials believe he may be a crucial link between overseas entities and operations within India.
The probe has also revealed the use of an online accounting system allegedly managed from abroad to track withdrawals and fund utilisation, indicating a structured and monitored network.
The case has triggered political reactions, with BJP leaders alleging misuse of foreign funds and raising questions over regulatory oversight.
Further investigation is underway to establish the full scope of the network and identify all individuals involved.
