The Enforcement Directorate (ED) on Wednesday conducted searches at 17 locations across India as part of its investigation into the Parimatch betting app, which is allegedly involved in money laundering. The raids were carried out in cities including Delhi, Mumbai, Bengaluru, and Hyderabad, among others.
Details of the Raids
The ED's action comes after a probe revealed that the Parimatch app, which allows users to place bets on sports and other events, was being used to launder money. The agency seized digital devices, documents, and other evidence during the searches. Officials said the investigation is focused on the app's operators and their links to illegal betting networks.
Allegations Against Parimatch
Parimatch is a popular betting platform that has been under scrutiny for allegedly facilitating illegal betting and money laundering. The ED's investigation is part of a broader crackdown on illegal betting apps that have proliferated in India. The agency has also been probing other similar platforms.
The ED has registered a case under the Prevention of Money Laundering Act (PMLA) against the app's promoters and is tracking the flow of funds. The searches are expected to provide crucial evidence to unravel the money trail.
Impact and Next Steps
The raids have sent shockwaves through the online betting industry. Experts believe that the ED's action will deter other illegal betting apps. The agency is likely to summon the app's operators for questioning and may also freeze assets linked to the case.
The investigation is ongoing, and more details are expected to emerge as the ED analyzes the seized material.
