The Enforcement Directorate has launched coordinated raids in at least six cities as part of its investigation into an alleged ₹2,000 crore illegal betting network linked to the online platform Parimatch. The action is being carried out under the Prevention of Money Laundering Act and stems from a 2024 FIR filed by Mumbai cyber police.
According to officials, the platform is accused of defrauding users through online betting and then laundering the proceeds via mule accounts, payment aggregators, cryptocurrency wallets, ATM withdrawals, and small UPI transfers to make the trail harder to trace.
Raids were conducted at 15 locations across Mumbai, Delhi NCR, Hyderabad, Jaipur, Madurai, and Surat. Investigators have seized digital records, bank documents, mobile devices, and financial data that are believed to be key in uncovering the platform’s cross-border operations.
Preliminary findings indicate that fraudulent bets placed on Parimatch were allegedly converted into cash through ATM withdrawals concentrated in specific areas of Tamil Nadu, followed by low-value UPI transfers. This method is believed to have fragmented the money trail and concealed the origins of the illegal proceeds.
Authorities suspect possible foreign involvement as well as links to unregulated international betting operations. The ED is now analysing digital evidence such as user logs, communication channels, and onboarding data to map out the syndicate’s network and examine whether white-label operators or political intermediaries were involved.
This probe is part of the ED’s larger crackdown on illegal betting applications. Previous operations targeting the Mahadev app and other similar platforms have uncovered illicit funds worth hundreds of crores.
Celebrity connections are also under examination. Actors Vijay Deverakonda and Rana Daggubati have appeared before investigators regarding alleged promotional links to betting platforms, raising questions about the entertainment industry’s role in amplifying such operations.
Officials say the ongoing raids reflect a broader objective—dismantling unlawful betting systems and tracing the full digital footprint of their financial structures.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
