ED seizes Rs 3.44-cr in money laundering case against online betting

The ED case of money laundering stems from an FIR of the Surat Police crime branch filed against the accused

Press Trust of India New Delhi
Enforcement Directorate, ED

Listen to This Article

The Enforcement Directorate Friday said it has frozen 93 bank accounts and seized Rs 3.44 crore as part of a money laundering investigation linked to an illegal online betting case in Gujarat.

The action was taken under the criminal sections of the Prevention of Money Laundering Act (PMLA) after the federal agency on Thursday searched five accounts held at an IDFC First Bank branch in Surat.

The case pertains to alleged betting activities carried out through "fake and dummy" bank accounts by Harish alias Kamlesh Jariwala and others. The bets were being placed on mobile apps called and T20, the ED said in a statement.

Following the search in the bank, Rs 3.44 crore deposited in five accounts held by Mitalia Enterprise, R M Enterprise, D M Enterprises, Vishwakarma Traders and XBT Labs Pvt. Ltd. with IDFC First Bank has been frozen under the provisions of the PMLA, it said.

Further, 93 bank accounts, including the five bank accounts, "related and involved in layering/transfer of proceeds of crime have been ordered to be debit freezed", the probe agency said.

It is alleged that Jariwala as part of a "criminal conspiracy with Rushikesh Adhikar Shinde and Huzefa Kausar Masakarwala obtained identity documents of various people, prepared fake rent agreements in their names, obtained mobile phone SIM cards and licenses for dummy firms".

Also Read

Flouting govt directions, betting, gambling platforms continue to advertise

ED freezes funds worth over Rs 51 cr in mobile apps money laundering case

ED attaches Rs 213 cr worth 'proceeds of crime' related to money laundering

Brazil misses out on Fifa world cup betting. What's India's wager?

In a U-turn, outstanding NRI deposits rise in October, shows RBI data

PM's Mann ki Baat led to increase in awareness about Ayush: Sonowal

IndiGo to operate flights from Jeddah to Delhi under Operation Kaveri

Sebi slaps fine of Rs 75 lakh on 15 entities for non-genuine trades

Gold declines Rs 420 to Rs 59,980 per 10 grams; silver tumbles Rs 570

Conducting caste-based survey no crime, says Bihar CM to opposers

The login IDs/passwords and SIM cards were sold to Masakarwala for transferring the funds obtained from illegal betting apps and T20 and these bank accounts were opened in the names of "fictitious entities for routing and layering of money", it said.

The ED case of money laundering stems from an FIR of the Surat Police crime branch filed against the accused.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Apr 28 2023 | 10:13 PM IST

Explore News