ED attaches Rs 11.14 crore assets of Suresh Raina, Shikhar Dhawan in online betting case: What we know so far

The Directorate of Enforcement (ED) has provisionally attached assets worth Rs 11.14 crore belonging to former Indian cricketers Suresh Raina and Shikhar Dhawan under the Prevention of Money Laundering Act (PMLA), 2002. The attachment comprises mutual fund investments of Rs 6.64 crore held by Suresh Raina and an immovable property valued at Rs 4.5 crore owned by Shikhar Dhawan.The ED investigation stems from multiple FIRs filed by various State Police agencies against operators of the illegal offshore betting platform 1xBet. Investigations revealed that 1xBet and its surrogate brands 1xBat and 1xbat Sporting lines were involved in promoting and enabling illegal online betting and gambling operations across India.The investigation found that both Raina and Dhawan consciously entered into endorsement agreements with foreign entities to promote 1xBet through its surrogates.

The payments for these endorsements were channelled through foreign entities to hide the illicit origin of funds linked to illegal betting activities.1xBet operated without proper authorisation in India and utilised surrogate branding and advertisements to reach Indian users through various media channels. The payment structure for endorsements involved complex, layered transactions using foreign intermediaries to conceal the illegal source of funds.

The ED's investigation has uncovered over 6,000 mule accounts used for deposits. The funds collected from users were routed through multiple payment gateways to disguise their origin. The investigation revealed that merchants were registered on these gateways without proper KYC verifications.The investigation exposed a mismatch between declared business activities and transaction patterns of these merchants, indicating money laundering exceeding Rs.

1,000 crores. Recent searches led to the seizure of incriminating evidence, with over 60 bank accounts linked to these payment gateways now frozen.Authorities have frozen more than 4 crores in funds, with investigations still ongoing. The ED has issued public advisories warning against engaging in online betting or gambling platforms.The ED urges the public not to share personal or business bank accounts, debit cards, UPI IDs, or payment wallets for receiving or transferring unknown funds.

People are advised to avoid clicking on social media advertisements promising high returns or betting offers.The public is cautioned against downloading mobile applications or joining messaging channels promoting online betting or gambling. Anyone knowingly assisting in such activities may face prosecution under PMLA, 2002, risking imprisonment up to 7 years and asset attachment.The ED emphasises that illegal betting and gambling cause economic harm and facilitate money laundering and unlawful activities.

Citizens are encouraged to report suspicious transactions or advertisements to law enforcement agencies or the ED. People who suspect account misuse are advised to immediately inform their bank and local police authorities. The investigation continues to uncover more details about the illegal betting operations and associated money laundering activities.

Online betting case: What we know so far