The Enforcement Directorate, or ED team, raided 21 locations in Delhi, Mumbai and Pune related to online betting. Let us tell you that this raid was conducted by ED under the Prevention of Money Laundering Act, also known as PMLA. The ED team conducted the surprise inspection from December 10 to 12. Let us tell you that this action taken by ED is part of the ongoing investigation into illegal telecasting of cricket matches and online betting. During the raid, a bank amount of Rs 30 lakh was frozen and many incriminating documents and digital devices were also seized.
ED raids gambling case
The ED has initiated the investigation based on an FIR registered by the Ahmedabad Cyber ​​Crime Police Station against online gambling app MagicWin and other companies. Investigation revealed that “MagicWin” was a gambling website and had been shown to be a gambling website. Surprisingly, this gaming app was developed by Pakistani citizens and run by some Indian citizens living in Dubai. Investigations revealed that gambling games on the site were conducted in the Philippines and other countries where gambling is legal. The APIs of these games are copied and redistributed on MagicWin.
App operates in Pakistan
Let us tell you that betting, depositing, withdrawing and operating bets on the website, everything is done by the owners of this application based in Pakistan. The ED’s investigation also revealed that funds deposited by players and bettors on the site were transferred through different shell companies and fake bank accounts. The owners of the app first invest their money in cryptocurrencies and then transfer the money to Dubai using cash and hawala channels. Furthermore, the money of the betting winners was transferred to their bank accounts through the payment gateway/aggregator of the shell company.
Betting App Launch
Let us tell you that funds are also sent to players via Domestic Money Transfer (DMT). The investigation also found that gambling app MagicWin organized a launch event in India, attended by a number of Bollywood celebrities and promoted. These celebrities took photos and videos for MagicWin and posted its advertisements on social media. Apart from this, the betting app is also promoted through outdoor billboards in many parts of the country, especially in the states of Gujarat and Maharashtra. Let us tell you that the Ahmedabad division of ED has so far raided 68 locations in this case. So far, properties worth Rs 355 crore have been seized in the case.
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