The Enforcement Directorate (ED) is investigating a money-laundering case involving over Rs 331 crore deposited in a bank account linked to an illegal betting app. A bike-taxi driver was found to be unknowingly used as a 'mule' to funnel the illicit funds.
The Delhi High Court has held that profits from cricket betting would constitute "proceeds of crime" under the anti-money laundering law.
The Enforcement Directorate (ED) has attached assets worth Rs 11.14 crore of former cricketers Suresh Raina and Shikhar Dhawan as part of a money-laundering probe linked to the operations of an alleged illegal betting site, official sources said on Thursday.
According to the memo, the NBA said that with sports betting occupying a significant part of the current sports landscape, every effort must be made to ensure that players and coaches are aware of the "dire risks" that gambling can impose upon their careers and livelihoods.
Six Telugu film actors, including Rana Daggubati, Prakash Raj, and Vijay Deverkonda, along with 19 social media influencers have been booked for allegedly promoting betting apps. A businessman filed a complaint alleging that the celebrities and influencers were promoting these apps on social media through pop-up ads and other means. The police registered a case under relevant sections of the BNS, Gaming Act, and IT Act based on the complaint and are planning to issue notices to those named in the FIR.
The probe pertains to alleged illegal betting apps that are stated to have duped numerous people and investors worth crores of rupees or have evaded a huge amount of taxes.
Betting industry representatives will meet organisers of the London Olympics on Tuesday to discuss ways to prevent illegal gambling which some officials regard as a bigger threat to the integrity of the Games than doping.
Chauncey Billups, an NBA Hall of Fame player and head coach of the Portland Trail Blazers, and Terry Rozier, a guard with the Miami Heat, were among more than 30 people charged on Thursday.
The Enforcement Directorate questioned Robin Uthappa for over eight hours and recorded his statement in a money laundering case linked to online betting app.
As part of the probe, the ED has summoned representatives from both companies to appear before its Delhi headquarters on July 21.
'Illegal gambling operators are systematically exploiting India's advertising and payment infrastructure, siphoning off crores of rupees from outside the country.'
The federal probe agency also said it seized Rs 12 crore in cash (including about Rs crore in foreign currency), gold jewellery worth Rs 6 crore, silver about 10 kg along with four vehicles following raids launched on Friday in multiple states.
The Enforcement Directorate (ED) has frozen Rs 110 crore and seized 1,200 mule credit cards following searches against the Indian operations of Parimatch, a Cyprus-based online betting platform, for alleged money laundering and cheating investors.
The Enforcement Directorate (ED) has accused Karnataka Congress MLA K C Veerendra of collecting over Rs 2,000 crore through online betting sites. The agency alleges that Veerendra and his associates used various gateways and fintech service providers to mask their illicit activities.
'Tarique Rahman's refrain during the electoral campaign was that the minorities are safe under BNP. He has to honour that promise.'
Gujarat police arrest a woman allegedly involved in trafficking job aspirants to Myanmar and Thailand for cyber slavery. The accused lured people with promises of high-paying jobs and forced them to work for international cyber crime syndicates.
The server used for the purpose was tracked by cyber crime personnel to Divyanshu Patel, a resident of Unjha in Mehsana district, who was arrested, he said.
'The pressure from these betting games, coupled with financial ruin, is becoming unbearable for many, and tragically, some even resort to extreme measures like suicide.'
Dream11, Baazi Games, Zupee and WinZO among others are invited for the discussion with the anti-money laundering watchdog.
As per the ED, a website was engaged in unauthorised online betting in various sports including tennis, cricket, soccer, basketball, badminton and boxing, and live-streamed Indian Premier League matches without any permission.
A strong demand was made in the Lok Sabha to eliminate online betting and gambling applications. YSRCP member Maddila Gurumoorthy urged the government to set up a dedicated task force to take action against betting and gambling apps. He also asked the government to draft regulations for such applications and launch awareness campaigns about the dangers of online betting. Other issues raised included deposit insurance coverage for bank depositors, representation of Scheduled Castes in the Kerala government, challenges faced by nurses, and the need for paramilitary forces in Jharkhand during upcoming Hindu festivals.
The Enforcement Directorate has summoned actor Ranbir Kapoor for questioning on Friday in connection with Mahadev betting application money laundering case of Chhattisgarh, officials said Wednesday.
Illegal gambling on the cup is prevalent in countries like Thailand and Malaysia, where football is hugely popular, but which don't have legal betting alternatives, gambling industry experts say.
SEBI alleges Jane Street placed bets on the stock market falling and then acted in a way to make the market actually fall so it could win its bet.
Rajasthan Cricket Association official Jaideep Bihani has accused the Rajasthan Royals of match-fixing after they failed to chase down nine runs in the final over in their last two matches.
The Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
As per sources, the MHA recommended the MeitY this week to ban and block these apps, and the ministry subsequently initiated the process as per communication.
The Central Bureau of Investigation (CBI) conducted searches at the residence of former Chhattisgarh Chief Minister Bhupesh Baghel in Raipur and Bhilai on Wednesday. The agency also searched the residences of a senior police officer and a close associate of the former chief minister. The CBI is tight-lipped about the matter in which the searches are taking place. Further details are awaited. Recently, the Enforcement Directorate had conducted searches at Baghel's residence in connection with an alleged liquor scam case.
The fast-growing Indian online gaming sector is facing a significant threat from money laundering, necessitating urgent steps to ensure its sustained success and protect the country's robust digital economy, a report said on Thursday. The essential measures outlined in a report by the Digital India Foundation include forming a dedicated task force for illegal operators, creating a whitelist of legal operators, combating misleading advertisements, and incorporating principles of financial integrity and international cooperation.
Chandrakar along with another promoter of the app, Ravi Uppal was detained and put under "house arrest" in that country late last year following the ED's request for issuance of a Red Notice (RN) against them.
Reels often induce the FOMO-'Act now!' mentality. But sound investing is about consistency, diversification and a long-term horizon.
The size of the scam is about Rs 15,000 crore, as per the first information report (FIR) registered by the police in the case.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
Uppal, 43, was detained last week in that country and the ED authorities are in touch with the Dubai authorities to get him deported to India, they said.
The Supreme Court declined to examine a plea challenging a PMLA provision, stating the issue lies in the law's abuse, not the law itself. The court allowed the petitioner to approach the High Court if procedures weren't followed.
In the video, a man identifies himself as Shubham Soni and claims he is the owner of the Mahadev Book betting app.
Former Pakistan off-spinner Akram Raza has protested his innocence after being arrested during a raid on a bookmakers den.
The Enforcement Directorate may also file a fresh chargesheet in this multi-crore money laundering case soon, they said.
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