ED Raids In Mumbai And Kutch, Gujarat, Seizing ₹4 Crore In Assets From Key Personnel Behind Fairplay Betting's Technical And Financial Management Services

Mumbai: The Enforcement Directorate (ED) conducted a series of search operations at eight locations across Mumbai and Kutch, Gujarat, on Friday, October 25, as part of its probe into Fairplay, an online betting platform allegedly involved in illegal cricket broadcasting, including the Indian Premier League (IPL), and extensive online betting activities.

FairPlay is an online platform that claims to be India's largest betting destination, providing various sports betting options, online casino games, and more. It operates as a subsidiary of the Mahadev Betting App, a prominent entity in India’s online gambling network, which has come under investigation by the ED and other agencies for alleged money laundering and illegal betting activities.

The raids, conducted under the Prevention of Money Laundering Act (PMLA), 2002, led to the seizure and freezing of movable assets, including cash, bank funds, and silver bars totaling an estimated Rs 4 crore.

Additionally, financial probe agency recovered various incriminating documents, digital devices, and property documents.

In 2023 the Nodal Cyber Police, Maharashtra filed an FIR against M/s. Fairplay Sport LLC and related companies on the complaint of Viacom18 Media Pvt Limited under relevant sections of Indian Penal Code, Information Technology Act and Copyright Act, 1957 for causing loss of revenue of more than Rs 100 Crore (Proceeds of Crime). propelling the ED to target the platform’s financial conduits.

During investigation ED found that Krish Laxmichand Shah the key person behind the Fairplay has registered various companies such as M/s. Play Ventures N.V. and M/s. Dutch Antilles Management N.V. in Curacao, M/s. Fair Play Sport LLC and M/s. Fairplay Management DMCC in Dubai, and M/s. Play Ventures Holding Limited in Malta—set up to support Fairplay’s betting global operations

Dubai has emerged as Fairplay’s operational nerve center, with technical and financial logistics managed through entities in India.according to the ED officials the search action was carried upon persons providing technical and ,financial management support services to Fairplay betting network.

Incriminating documents digital evidence seized during the search also revealed purchase of high value immovable and movable assets in India by the individual connected to the betting network.amounting to more than Rs 100 Crore, ED said in a statement on Tuesday.

This is the fourth round of searches in the case. Earlier, the ED conducted raids on June 12, August 27, and September 27, seizing or freezing movable assets worth approximately Rs 113 crore. The total seizure in this case now stands at Rs 117 crore.

The ED's investigation seeks to unravel the intricate web of financial transactions and identify the beneficiaries behind these illegal betting and broadcasting operations. With the cricket season in full swing, this crackdown serves as a stern warning to individuals involved in unlawful activities.