CBI alleges foreign funds were withdrawn through ATMs using foreign debit cards; investigation covers alleged FCRA, BNS and IT Act violations
New Delhi, September 17, 2026: The Central Bureau of Investigation (CBI) has registered an FIR against seven accused, including six individuals and the US-based organisation The Timothy Initiative (TTI), over alleged violations of the Foreign Contribution (Regulation) Act (FCRA), 2010, involving foreign funds of approximately Rs 92.55 crore.
According to the CBI FIR, the case was registered by the agency’s Economic Offences-II (EO-II) unit in Delhi on August 27, 2026. The case invokes provisions of the FCRA, the Bharatiya Nyaya Sanhita (BNS), 2023, and the Information Technology Act, 2000.
The individuals named in the FIR are Jonathan S Rajan, Micah Mark, Ajit Verghese Mathal, Bablu Kurmi, Supreme Joy and Varghese Chacko, along with The Timothy Initiative, USA, and other unidentified persons.
Alleged withdrawal of foreign funds
The CBI has alleged that the accused, in coordination with TTI, arranged for foreign funds to be withdrawn through ATMs across India using foreign debit cards issued by Truist Bank, USA.
As per the FIR, approximately Rs 92.55 crore (USD 9,995,240) was allegedly withdrawn or utilised in contravention of FCRA provisions between November 2025 and April 2026. The FIR also refers to around Rs 44 crore allegedly withdrawn using foreign debit cards across several states, including Karnataka, Chhattisgarh and Assam, between January 2024 and March 2026.
24 foreign debit cards allegedly recovered
The FIR states that Micah Mark was intercepted by the Directorate of Enforcement at Kempegowda International Airport in Bengaluru on April 18, 2026. According to the allegations recorded in the case, he was found carrying 24 foreign debit cards issued by Truist Bank.
The CBI further alleges that the cards had been printed in the name “Santosh Kumar”, allegedly on the instructions of Ajit Verghese Mathal, with the purpose of concealing the identity of the actual users.
The FIR also alleges that more than 1,000 such debit cards had been distributed in India over a period of time.
Allegations of remote deletion of digital data
The CBI has further alleged that after search proceedings, TTI’s global portal became inaccessible in India and that certain data stored on cloud systems and a seized laptop was remotely deleted.
According to the FIR, Jonathan S Rajan was allegedly responsible for overall operations of TTI in India, while Ajit Verghese Mathal was allegedly involved in financial operations. Varghese Chacko, Supreme Joy and Bablu Kurmi have been accused of functioning at the field level and allegedly withdrawing cash using foreign debit cards.
The case remains at the investigation stage, and the allegations contained in the FIR are yet to be established before a court.
Source: Agency / Babushahi Network
