ED Traces ₹900 Crore In Parimatch Betting Proceeds; Raids Uncover Sham ODIs, Bogus Imports, Seizes ₹2.11 Crore Assets, Freezes ₹37 Crore
Mumbai, September 3, 2026: The Enforcement Directorate (ED) has traced funds of more than Rs 900 crore allegedly generated through Cyprus-based illegal online betting platform Parimatch, which were routed abroad through a network of sham overseas direct investment (ODI) transactions and bogus imports of services, the central agency said Thursday. Of this, assets worth approximately Rs 150 crore…
The Enforcement Directorate (ED) has traced over Rs 900 crore in proceeds allegedly generated through the Cyprus-based online betting platform Parimatch, according to a report on September 3, 2026. The funds were allegedly routed through a network of sham overseas direct investment (ODI) transactions and bogus imports of services, leading to the seizure of assets worth approximately Rs 2.11 crore and the freezing of ₹37 crore.
Searches were conducted across 17 locations in Maharashtra, Rajasthan, Delhi, Gujarat, and Uttar Pradesh, where movable assets including cash, gold, and frozen funds were seized. The investigation has uncovered a complex mechanism involving sham ODI transactions, bogus imports, and the use of cash management systems and digital money transfer agents.
Ayurvedic payment firms Airpay Payment Services and MakeMyWallet Software India Private Limited were among the premises searched. The ED is examining whether these entities were involved in routing or layering the funds before their remittance abroad.
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