ED raids multiple states over foreign debit card fund trail

The Enforcement Directorate conducted multi-state searches over alleged misuse of foreign debit cards linked to “The Timothy Initiative,” involving large cash withdrawals in India, suspected FCRA violations, and possible routing of funds through a coordinated cross-border network

New Delhi/Hyderabad: The Directorate of Enforcement (ED) has conducted search operations at six locations across multiple states in connection with suspected withdrawal and utilisation of funds using foreign bank debit cards, allegedly bypassing regulatory channels.

The search operations were conducted on April 18 and 19, the central agency said in a release on Friday.

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The investigation pertains to activities associated with a movement known as “The Timothy Initiative (TTI)” in India and persons connected with it. The probe revealed that foreign bank debit cards linked to Truist Bank, USA, were brought into India and used for repeated cash withdrawals from ATMs across multiple states.

The withdrawn cash was subsequently utilised for meeting expenses linked to the activities of TTI in India, an organisation which is not registered under the Foreign Contribution (Regulation) Act (FCRA), the agency said.

The investigation has further revealed the involvement of multiple individuals across different parts of India. As many as 24 foreign debit cards were found in the possession of Micah Mark, who was intercepted by the Bureau of Immigration at Bengaluru International Airport against a Look Out Circular (LOC) issued by the ED while bringing the cards into India.

The investigation further revealed unusual and suspicious cash withdrawals using these foreign debit cards in Left Wing Extremism (LWE)-affected regions, including Dhamtari and the Bastar region of Chhattisgarh, where approximately Rs 6.5 crore has been withdrawn in the past few years.

It has been observed that these foreign debit cards were used to withdraw large amounts of cash in a planned manner, indicating possible involvement of organised networks. Such emergence of a parallel cash-based economy in Naxalite-affected areas poses a serious threat to the security and financial integrity of India and can facilitate the movement of illicit funds for unlawful activities, the ED said.

The investigation revealed that a billing and accounting online platform was used to maintain records of such cash withdrawals from ATMs and their utilisation. The platform is purportedly controlled by entities operating from outside India.

The probe has further revealed that approximately Rs 95 crore was channelled into India using foreign bank-issued cards during the period from November 2025 to April 2026.

The searches resulted in the seizure of 25 foreign bank debit cards, cash amounting to Rs 40 lakh, and various incriminating digital evidence, devices, and documents. Further investigation is under way, the ED added.