ED conducts raids at 19 locations in Mumbai, Pune for illegal betting on IPL and Lok Sabha polls

The Enforcement Directorate (ED), Mumbai Zonal Office, has conducted search operations on June 12, 2024, under Prevention of Money Laundering Act (PMLA), 2002, at 19 locations in Mumbai and Pune. The search operations were conducted as part of the ongoing probe in the case of “Fairplay” (thefairplay.io) which was involved in illegal broadcasting of cricket matches, particularly IPL, and various online betting activities including results of Lok Sabha Elections 2024, an ED official in a statement said.

During the course of search operations, movable assets in the form of cash, bank funds, demat account holdings and luxury watches to the tune of approximately ₹8 crore were seized and frozen along with various other incriminating documents and digital devices.

“The ED initiated investigation based on an FIR registered by Nodal Cyber Police, Mumbai, on the complaint of M/s. Viacom18 Media Pvt Limited under various section of of IPC, 1860, Information Technology Act, 2000 and Copyright Act, 1957 against M/s. Fairplay Sport LLC and others for causing loss of revenue of more than ₹100 crore (Proceeds of Crime),” the official said.

Through the ED investigation it was revealed that Fairplay made agreements through foreign-based entities based in Dubai and Curacao with Indian agencies representing celebrities. It was found that no due diligence was performed by Indian agencies regarding Fairplay before executing the agreements for its promotion.

Further, investigation conducted till date revealed that Fairplay collected funds through various bogus and shell bank accounts which in turn were layered through complex web of bank accounts of shell entities and were then accumulated in pharma companies involved in bogus billing. 

“Investigation further revealed that funds from these companies have been siphoned off to overseas shell entities based out of Hong Kong SAR, China and Dubai. More than 400 bank accounts of shell entities were found to be used for these purposes which are under examination along with trailing and utilisation of funds collected from public by Fairplay. Further investigation into the matter, is under progress,” an ED official said.