ED's most important action: 307.16 Crore property seized 'FairPlay' online betting

Mumbai, September 22 (IANS). The Directorate for Enforcement (ED) Mumbai Zonal temporarily associated assets worth Rs 307.16 crore on September 19 with ‘Fairplay’ in a large case of money laundering. This action was done under the Prevention of Money Waundering (PMLA), 2002. Attached properties include deposits (movable property) in bank accounts and land, villas and apartments (real estate) in Dubai (UAE). The ED launched the investigation on the basis of a fir submitted by the Mumbai Cyber ​​Police by Viacom 18 Media Private Limited, making serious allegations against the FairPlay and others. FairPlay is accused of having revenue loss of more than Rs 100 crore. Later, several FIRs related to illegal online betting against fair plays and other related institutions were added to the simultaneous investigation. Investigation has so far revealed that in this case there was a transaction of several hundred crore calls through money laundering and the funds were sent abroad through money laundering. The most important accused Krish Laxmichand Shah has registered several companies in Kurakao, Dubai and Malta for the FairPlay operation, in which Play Ventures NV, Dutch Antilles management NV (Kuracao), Fair Sport Sport LLC, FairPlay Management DMCC (Dubai) and Ventures Hold Hold Limited (Malta). The investigation also revealed that Krish l Shah operated the FairPlay with the help of his colleagues Anil Kumar Dudlani and others from Dubai. Several properties were found in Dubai in the name of him and his family members. Earlier on June 12, August 27, September 27 and October 25, 2024, the ED attacked the case, which seized large quantities of assets. The ED also issued in the case on November 22, December 26, December 20, 2024 and January 15, 2025. On February 12, 2025, Chintan Shah and Chirag Shah were arrested. Thereafter, the ED filed a charge sheet with the Special PMLA Court on April 1 that the court noted on April 25. So far, the amount of total attachment and seizure in this case has been Rs 651.31 crore. The ED said the investigation in the case is still underway. -Ianash VKU/DSC shares this story Tags