New Delhi, Nov 6 (UNI) The Directorate of Enforcement (ED) on Thursday said that they have attached movable and immovable assets worth Rs 1.14 crore belonging to former Indian cricketers Suresh Raina and Shikhar Dhawan under the Prevention of Money Laundering Act (PMLA), 2002.
The attachment includes mutual fund investments worth Rs 6.64 crore held in Suresh Raina’s name and an immovable property valued at Rs 4.5 crore held in Shikhar Dhawan’s name.
The ED investigation stems from multiple FIRs registered by various state police agencies against the illegal offshore betting platform 1xBet.
The investigation revealed that 1xBet and its surrogate brands 1xBet and 1xBet Sporting lines promoted and facilitated illegal online betting and gambling operations across India.
Investigation confirmed that both cricketers knowingly entered into endorsement agreements with foreign entities to promote 1xBet through its surrogates. These endorsements were made in return for payments routed through foreign entities to conceal the illicit origin of funds, which are proceeds of crime generated from illegal betting activities.
The probe uncovered that 1xBet operated in India without authorization, using surrogate branding and advertisements to target Indian users through social media, online videos, and print media.
Payments for endorsements were structured through layered transactions using foreign intermediaries to disguise the illegal source of funds.
The investigation has revealed a money laundering trail exceeding Rs 1000 crore. 1xBet facilitated betting for Indian users by collecting money through various mule accounts, with over 6000 such accounts identified.
Amounts collected from users were routed through multiple payment gateways to disguise their origin. Merchants were onboarded on these gateways without KYC verification, and their declared business activities didn’t match transaction patterns, indicating laundering of funds exceeding Rs 1000 crore.
Following search operations under PMLA, the ED conducted searches at four payment gateways, resulting in the seizure of incriminating evidence. Over 60 bank accounts linked to these payment gateways have been frozen, with amounts exceeding Rs 4 crore frozen so far.
The ED has issued a public advisory, cautioning against:
1. Opening, sharing, or allowing personal/business bank accounts, debit cards, UPI IDs, or payment wallets to be used by others for transferring funds of unknown origin
2. Clicking on advertisements or links on social media promising high returns, betting offers, or “passive income” schemes
3. Downloading mobile applications or joining Telegram/WhatsApp channels promoting online betting or gambling
4. The public is warned that anyone knowingly assisting such activities may face prosecution under PMLA, with imprisonment up to 7 years and asset attachment
5. Citizens should immediately inform their bank and local police if they suspect account misuse
The ED reiterates that illegal betting and gambling cause economic harm and facilitate money laundering and financing of unlawful activities. Further investigation is in progress.
