New Delhi: The Enforcement Directorate said on Tuesday it has undertaken fresh searches in a money laundering case against a website that allegedly indulged in online betting on 2024 Lok Sabha election results apart from an illegal broadcast of IPL cricket matches.
Cash, bank deposits and silver bars worth about Rs 4 crore were seized along with various other "incriminating" documents, digital devices and immovable property-related documents during the raids conducted on October 25 in Mumbai and in Kutch in Gujarat, the ED said in a statement.
The action was taken against people providing technical and financial management support to the website named "Fairplay", which was allegedly involved in illegal activities. The money laundering case stems from an FIR of the Mumbai police cyber cell that was filed on the complaint of Viacom18 Media Pvt Limited against Fairplay Sport LLC and others for causing a loss of revenue of more than Rs 100 crore.
The federal agency said its probe shows that Krish Laxmichand Shah is the "key person" behind Fairplay and has registered various companies like Play Ventures N.V and Dutch Antilles Management N.V at Curacao (an island country in the southern Caribbean Sea), Fair Play Sport LLC, Fairplay Management DMCC at Dubai and Play Ventures Holding Limited in Malta for the operations of the website.
Fairplay is being "operated" from Dubai, the ED found. "Incriminating documents seized during the search show purchase of high value immovable and movable assets in India by the persons involved and this amounts to more than Rs 100 crore," the agency said.
The ED has thrice earlier conducted raids in this case beginning from June and it had seized or frozen assets worth Rs 117 crore till now, including the latest action. It had earlier said that Fairplay was involved in "illegal broadcasting of cricket/IPL matches and various online betting activities including results of Lok Sabha Elections 2024".
