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  • ED raids firms running Chinese betting apps; Freezes around Rs 47 crore rupees in four bank accounts

    Published on August 30, 2020

    Enforcement Directorate (ED) has frozen around 47 crore rupees of Companies involved in running Chinese Online Betting Apps. The agency had on Friday conducted searches at 15 locations spread across Delhi, Gurgaon, Mumbai and Pune under the provisions of Prevention of Money Laundering Act in a case related to illegal betting.


     
    It said, searches were conducted on the registered offices of the companies, their Directors and Chartered Accountants involved in illegally running Online Betting Apps from websites which are hosted from outside India.


    During the course of searchs, ED has seized 17 hard disks, 5 laptops, phones, crucial incriminating documents and has also frozen around 47 Crore rupees held in four HSBC Bank Accounts.
     
    The agency had initiated investigation based on the FIRs lodged by Cyber Crime Station of Hyderabad Police.
     
    Three persons were arrested by Police. During investigation it is revealed that, with the help of some Indian Chartered Accountants, some Chinese nationals floated multiple Indian Companies. Initially, dummy Indian Directors were used to incorporate the companies and after some time, Chinese nationals travelled to India and took Directorship in these companies. 

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