FIR in Bengaluru; ED alleges Rs. 92.55 crore cash withdrawal using 1,000 foreign debit cards
Bengaluru / Mysuru: The Kothanur Police under Bengaluru’s Sampigehalli Sub-Division have registered an FIR against seven individuals, including a Mysuru resident and a US-based organisation, following a complaint by the Enforcement Directorate (ED).
The ED has alleged that foreign funds worth Rs. 92.55 crore were withdrawn through foreign bank debit cards and channelled into Naxal activities across several States.
The case was registered on a complaint filed by Sunil Kumar Sinhaar, Assistant Director of the ED in Delhi, under provisions of the Unlawful Activities (Prevention) Act (UAPA) and the Bharatiya Nyaya Sanhita (BNS). The accused have been booked for criminal conspiracy, cheating, forgery and fabrication of documents.
Those named in the FIR are Jonathan S. Rajan of Bengaluru, Supreme Joy of Mysuru, Mika Mark, Ajith Varghese Mathai, Varghese Chacko of Chhattisgarh, Bablu Kurmi of Assam and the US-based organisation The Timothy Initiative (TTI).
Debit card withdrawals
According to the complaint, the accused obtained debit cards linked to foreign bank accounts and withdrew Rs. 92.55 crore from ATMs across India between April 2025 and 2026, allegedly in violation of provisions of the Foreign Exchange Management Act (FEMA).
The ED has further claimed that nearly Rs. 44 crore was withdrawn across Karnataka, Chhattisgarh, Assam and other States between 2024 and 2026.
According to preliminary findings, several suspicious cash transactions were traced to Naxal-affected areas, particularly in Chhattisgarh. Investigators are examining whether the withdrawn funds were used to support activities linked to extremist networks or radical left-wing ideologies operating in these regions.
The investigation began after Mika Mark was detained at Bengaluru Airport, where officials recovered 24 foreign debit cards from his possession. Given indications of foreign funding, the case could be handed over to the National Investigation Agency (NIA).
The ED alleges that Mark oversaw the financial operations of Timothy Initiative India. Jonathan S. Rajan, the first accused, has been identified as the head of TTI’s India operations.
Beyond regulations
According to the FIR, more than 1,000 foreign debit cards linked to a US bank account were used to withdraw cash. Investigators claim the cards were issued in the name of a fictitious individual, Santhosh Kumar and distributed across the country to facilitate cash withdrawals.
The agency has also alleged that a portion of the funds may have been utilised in Left-Wing Extremism (LWE)-affected regions. Authorities suspect the debit card network was used to move and distribute foreign funds outside the regulated banking system.
Ajith Varghese Mathai, named as third accused, was allegedly handling TTI’s finances in India through registered firms and multiple shell entities. Officials said Rs. 37 lakh was seized from him during investigation.
This post was published on June 14, 2026 7:30 pm