ED Mumbai Searches 12 Locations In Parimatch Illegal Betting Case Over Alleged Cash Conversion & Sham ODI Investments
Mumbai: ED Mumbai is conduct searches u/s 17 of PMLA, 2002 at 12 locations (5- Maharashtra, 2-Rajasthan, 1- Gujarat, 4-Delhi-NCR) in the case of illegal betting platform Parimatch and Ors on 02.09.26. The premises covered include that of payment companies who have converted betting proceeds into cash through Cash Management System agents, Chartered Accountant(CA) and Company Secretaries who have…
The Enforcement Directorate (ED) conducted searches at 12 locations in Maharashtra, Delhi-NCR, Rajasthan, and Gujarat on Wednesday to investigate allegations of illegal online betting platform Parimatch's money laundering activities. The searches targeted payment companies involved in converting betting proceeds into cash using the Cash Management System (CMS) agents, Chartered Accountants (CAs) and Company Secretaries (CSs) suspected of facilitating illegal remittances and sham Overseas Direct Investment (ODI) transactions, and payment gateways handling transactions for the Parimatch platform.
The ED also searched premises linked to mule accounts, payment intermediaries, and financial inclusion channels used by the platform to collect, layer, and transfer user funds. Earlier searches conducted in May resulted in the seizure of movable assets worth around Rs 1.56 crore and the freezing of funds amounting to Rs 3.8 crore.
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