 "Seizure of the property of these two famous cricketers, know why ED took this big action!")
The Enforcement Directorate (ED) has booked former Indian cricketers Suresh Raina and Shikhar Dhawan in one of the country’s biggest cases related to online betting and money laundering. The agency has provisionally attached assets worth ₹11.14 crore of the two cricketers. This includes mutual fund investments worth ₹6.64 crore belonging to Raina and immovable property worth ₹4.5 crore belonging to Dhawan. The action has been taken under the Prevention of Money Laundering Act (PMLA) 2002.
How did the matter begin?
The case began with police in several states accusing the illegal betting platform 1xBet and its affiliate brands, 1xBet and Sporting Lines, of fraud, illegal transactions and promoting online gambling. Based on these FIRs, the ED registered a case of money laundering and started an investigation. The agency’s initial probe found documents related to suspicious transactions and foreign accounts worth crores of rupees.
How 1xBet was running the racket…
ED’s investigation revealed that 1xBet was operating online betting and gambling in India without valid permission. The platform wooed Indian users by running surrogate advertisements on social media, online videos and news portals. To raise funds, thousands of mule accounts were created, where deposits were made in the names of people across the country. Through these accounts, funds were transferred to foreign accounts through various payment gateways to hide the true origin of the funds.
How did Raina and Dhawan get into trouble?
The ED investigation revealed that the two players had endorsement deals with foreign companies that were directly or indirectly linked to 1xBet and its affiliates. Payments made to players in exchange for these deals were routed through foreign channels to make it appear as legitimate promotional income. However, according to the ED, this money was actually money earned through illegal betting. This proved that the players participated in promotions which fall under the ambit of money laundering.
Action so far…
The ED has raided four payment gateways, seized over ₹4 crore and sealed over 60 bank accounts. The investigation has so far revealed a money trail of ₹1,000 crore. The agency has said that many more high-profile individuals may come under investigation. The ED has warned the public to stay away from any online betting, dubious links or schemes, as such activities are not only illegal but can also pose a threat to the country’s economic security.