ED raids Mumbai firm for betting on Lok Sabha polls, illegal IPL broadcast

The Enforcement Directorate on Thursday conducted multiple raids on premises associated with an illegal betting app ‘Fairplay’, implicated in activities including unauthorised broadcasting of IPL matches and illegal betting on cricket and Lok Sabha elections.The raids were held on the premises of some Mumbai-based talent management agencies that had roped in Bollywood celebrities and actors to promote the app and called upon the audience to watch IPL 2023 on the Fairplay app, according to officials.Searches were also conducted on some entry operators in Mumbai who had helped divert money paid to the actors through talent management agencies for the promotion.The central probe agency has seized cash, details of bank funds, Demat account, and luxury watches to the tune of around Rs 8 crore. Various other incriminating documents and digital devices have also been recovered, the Enforcement Directorate said.A case was filed by the official broadcaster of the IPL, Viacom 18, against the app promoters and actors promoting the app on social media. As per the complaint, the Fairplay app caused a revenue loss of more than Rs 100 crore.The Fairplay app is part of the Mahadev Book app network.Earlier, rapper Badshah and actors Tamannah Bhatia and Sanjay Dutt were summoned for questioning by Maharashtra Police’s Cyber Crime wing. The Enforcement Directorate is probing the money laundering aspects of the case.The investigation revealed that Fairplay made agreements with Indian agencies representing Bollywood celebrities through foreign-based entities in Dubai and Curacao. It was found that no due diligence was performed by Indian agencies regarding Fairplay before executing the agreements for its promotion.Fairplay collected funds through various bogus bank accounts, which were layered through a complex web of bank accounts of shell entities and were then accumulated in pharma companies involved in bogus billing, the investigative officers said.Funds from these companies were further siphoned off to overseas shell entities based in Hong Kong SAR, China, and Dubai. More than 400 bank accounts of shell entities were found to be used for these purposes, which are under examination, the agency added.Published By: Ajmal Published On: Jun 13, 2024Tune InALSO READ | Tribunal quashes attachment of Praful Patel’s Mumbai property in DHFL-Mirchi caseMust Watch