The Enforcement Directorate (ED) stated on Saturday that it has attached assets worth more than five crore rupees in an investigation into allegations of illegal online betting and gambling operations against individuals and companies running such apps.
The investigation by the central agency has stemmed from the primary initiative of the Bangalore Police and was initially launched by the Directorate General of Goods and Services Tax Intelligence (DGGSTI) into allegations of companies’ involvement in illegal online betting, gambling, and suspicious illegal activities.
The Enforcement Directorate (ED) stated in a statement that under the provisions of the Prevention of Money Laundering Act (PMLA), an interim order has been issued, freezing the bank deposits amounting to a total value of 5.87 crore rupees. The agency has identified the alleged fraudulent apps as Prevention of Money Laundering Act
During the investigation, it was found that the accused individuals Shyamla N and Umar Farook had registered several companies using the documents of other individuals, and it was alleged that the HR (Human Resources) managers of these companies “illegally” purchased multiple SIM cards and linked them to bank accounts for online transactions.
According to the statement, these group entities, such as Rockstar Interactive, Indie World Studios, Falcon Entertainment Agencies, The Next Level Technology, Rift Gamer Technologies, Reality Code Technologies, Tens Solutions, Electronic Virtual Solutions, Zajago Interactive Agency, WhaleBytes Technology, Iobitcode Interactive Agency, Oculus Valve Entertainment, and Nestra Web Solutions, were created with the intention of deceiving the public under the guise of betting and gambling, with the aim of accumulating funds unlawfully.
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