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The ED investigation under PMLA is based on multiple FIRs registered by various State Police agencies against the operators of the illegal offshore betting platform 1xBet. The investigation has revealed that 1xBet and its surrogate brand 1xBat, 1xbat Sporting lines were engaged in promoting and facilitating illegal online betting and gambling operations across India.

Mumbai: The Enforcement Directorate has provisionally attached movable and immovable assets valued at Rs 11.14 crore belonging to former Indian Cricketers Suresh Raina and Shikhar Dhawan under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The attachment includes mutual fund investments worth Rs 6.64 crore held in the name of Suresh Raina and an immovable property valued at Rs 4.5 crore held in the name of Shikhar Dhawan.

The ED investigation under PMLA is based on multiple FIRs registered by various State Police agencies against the operators of the illegal offshore betting platform 1xBet. The investigation has revealed that 1xBet and its surrogate brand 1xBat, 1xbat Sporting lines were engaged in promoting and facilitating illegal online betting and gambling operations across India.

Investigation revealed that both Suresh Raina and Shikhar Dhawan knowingly entered into endorsement agreements with foreign entities for the promotion of 1xBet through its surrogates. These endorsements were made in return for payments routed through foreign entities to conceal the illicit origin of the funds, which are linked to proceeds of crime generated from illegal betting activities.

Investigation has further revealed that 1xBet operated in India without authorization and used 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 attachment follows ED’s search operations under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). The investigation revealed that 1xbet was facilitating betting and gambling for Indian users by collecting money through various mule accounts. Investigation so far has revealed over 6000 s mule accounts used for deposits. Amounts collected from users in these mule accounts were routed through multiple payment gateways to disguise their origin.

Investigation revealed that merchants were onboarded on these gateways without any KYC verifications. On verification of profile of these merchants, it is seen that the entities declared business activities did not match their transaction patterns, indicating laundering of funds exceeding Rs 1000 crores.

Based on these findings, searches were conducted, resulting in seizure of incriminating evidence. Over 60 bank accounts linked to these payment gateways have been frozen. Amount of over 4 crores have been frozen so far. Further investigation is in progress.