ED Investigates $1.5 Million Fund Transfers Linked to Foreign Entities
The Enforcement Directorate (ED) has launched an investigation into two foreign entities involved in a suspicious transfer of $1.5 million to a UK-based firm. The funds originated from TCC Digital Markets Ltd, registered in Saint Kitts and Nevis, and were routed through multiple jurisdictions, including Germany, Dubai, and Lithuania. The actual source of the funds was traced to the Dr Matthias Karl Vogt Trust in Germany, which transferred the money to Lithuania-based XBase Digital UAB. The UK firm received $1 million in two instalments in early 2026, while a separate transaction from Canada-registered ZBase Digital Inc added another $500,000. The investigation aims to verify transaction details and assess potential foreign interference in India's domestic affairs.
Published 16 hours ago • 07 Nov 2026, 03:00 PM IST