The Enforcement Directorate has intensified its investigation into an alleged ₹58.42 crore online betting and gaming fraud after conducting searches at 12 premises across Nagpur, Gondia and Ahmedabad. The agency said more than 100 bank accounts were frozen and financial and digital evidence was seized during the August 18 operation. The investigation centres on allegations that investors were promised substantial returns through online gaming and betting platforms, while funds were allegedly routed through mule accounts, agent accounts and cash-delivery channels to conceal the money trail.
ED Raids 12 Premises in Rs 58 Crore Online Betting Scam; Freezes Over 100 Accounts
The Enforcement Directorate (ED) has conducted searches in Nagpur, Gondia and Ahmedabad in connection with an alleged Rs 58.42 crore online betting and gaming fraud. Authorities have frozen over 100 bank accounts and seized several assets as part of the investigation.
The Enforcement Directorate’s investigation into an online betting racket has grown after the search of 12 locations revealed financial assets, digital evidence and bank accounts purportedly associated with a Rs 58.42 crore money laundering network.
Officials said the searches were carried out on August 18 under the Prevention of Money Laundering Act, 2002, at premises linked to the accused Anant Navratran Jain, also known as Sontu Jain, and associates.
The federal agency said the probe was initiated after a First Information Report (FIR) was registered at the Cyber Crime Police Station, Nagpur City, against Anant Navratran Jain and others.
The accused allegedly lured a complainant to invest large sums of money into online gaming and betting platforms with the promise of huge returns from betting activities and related opportunities, investigators have claimed.
Diamondexchange.com, wolf777.com, world777.com, Diamondexch, Indianexch, Lotusbook and World777 are some of the platforms mentioned in the investigation, which authorities say were used during the alleged scheme.
Investigation Focuses on Alleged Manipulation of Online Gaming Platforms
The Enforcement Directorate said the complainant lost money while participating through various online gaming and betting platforms but was repeatedly persuaded to deposit more funds.
According to officials, the platforms were purportedly manipulated in such a way that successful withdrawals were impossible when the complainant was approaching potentially profitable results in betting activities.
The agency alleged that technical problems and system failures had occurred at critical times, preventing the complainant from claiming winnings and leading to significant financial losses.
Investigators estimate that about Rs 58.42 crore was allegedly siphoned through the suspected network operating across multiple jurisdictions, based on the complaint and subsequent findings.
The Enforcement Directorate also alleged that the proceeds of the operation were routed through various channels, including cash deliveries facilitated through couriers on token-based identification methods.
Authorities said the funds were also routed through designated agent accounts allegedly identified by Anant Navratran Jain to create a layered financial infrastructure to conceal transactions.
It is alleged that several bank accounts held in the names of different persons and entities were utilized as mule accounts to receive, transfer and distribute the funds connected to the operation.
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Assets Worth Crores Seized During Enforcement Directorate Searches
In the August 18 searches in Nagpur, Gondia and Ahmedabad, officials seized Rs 30.30 lakh cash and put over 100 bank accounts under freeze.
The agency also froze mutual funds and shareholdings worth about Rs 5 crore, saying they were assets that could be linked to the proceeds under investigation.
The Enforcement Directorate has attached two bank lockers and three luxury vehicles worth collectively around Rs 1.70 crore, as part of its action under the provisions of the PMLA.
The searches yielded 11 mobile phones and one laptop. Officials said the devices contain evidence related to gaming operations and financial transactions.
Officials also seized documents of immovable properties worth about Rs 16.50 crore, which are being examined as part of the ongoing probe.
The agency, in a statement quoted by the investigators, said that transactions involving several crores were allegedly withdrawn in cash or sent abroad under import payment arrangements.
As the probe continues, the enforcement officials are expected to look into digital records, banking trails and property documents to ascertain the scale of the alleged network. Sprouts News understands that any further action will depend on what evidence can be gleaned from the seized assets and forensic examination of financial transactions.
