Investigative agencies have uncovered a sophisticated international money laundering and illicit foreign funding scheme that has stunned authorities. In a high-profile case linked to the American NGO The Timothy Initiative, the CBI has registered a formal FIR at the EO-II police station in Delhi. The scope of this widening financial investigation has expanded far beyond the national capital, stretching deep into Karnataka, Chhattisgarh, and Assam.
The Web of Fraudulent Debit Cards and Shared Names
The operational method behind this sprawling scam relied on circumventing stringent domestic KYC regulations and FCRA security frameworks by utilizing cards issued by the American Truist Bank. When Mika Mark was intercepted at the Bengaluru airport, security personnel recovered twenty-four foreign debit cards from his possession. Curiously, every single one of these cards bore only the name Santosh Kumar instead of distinct individual identities, ensuring the real users remained completely anonymous. Investigators indicate that over a thousand such counterfeit cards were circulated nationwide, enabling direct cash withdrawals through automated teller machines.
Multicrore Illicit Funding and Cash Seizures
Financial documents reveal that between November 2025 and April 2026, roughly $99.95 million equivalent to 92.55 crores in foreign capital was funneled into India without any valid FCRA registration or authorized banking channel. When enforcement authorities raided the Bengaluru premises of TTI finance head Ajeeth Verghese Mathai, they recovered thirty-seven lakh rupees in cash, primarily consisting of five-hundred-rupee denominations, alongside various digital devices. This accumulated cash was systematically withdrawn using the fraudulent foreign debit cards and distributed across the country to fuel questionable operations.
Wiping Digital Evidence Remotely From the United States
As investigating teams were actively gathering evidence on the ground, the accused orchestrated a digital cover-up in collusion with their masterminds located in the United States. During the initial hours of the enforcement raid, the Indian access to financial platforms like Bill.com and QuickBooks was abruptly blocked. Furthermore, an official laptop was remotely wiped out entirely to erase crucial digital trails before investigators could examine its contents.
Masterminds and Field Networks Under CBI Scrutiny
The formal CBI FIR names several individuals as prime accused, including TTI India operational head Jonathan S. Rajan, finance head Ajeeth Verghese Mathai, Mika Mark, and field workers Verghese Chacko, Supreme Joy, and Bablu Kurmi. The agency is currently conducting an intensive probe to trace the wider domestic and international tentacles of this counterfeit card network and illegal funding apparatus.
