ED Raids 12 Locations in Parimatch Betting Probe
· India · Economic Times, LiveMint
The Enforcement Directorate (ED) conducted raids at 12 locations across Maharashtra, Delhi-NCR, Rajasthan, and Gujarat as part of a money laundering investigation into the Cyprus-based betting platform Parimatch. The operation targeted payment companies, cash management agents, and professionals accused of facilitating illegal remittances and sham investments. This follows a previous search operation in May that resulted in the seizure of assets and the freezing of bank accounts. The current probe is being conducted under the Prevention of Money Laundering Act, 2002.
Why it matters
The investigation targets the financial networks supporting illegal offshore betting platforms, aiming to curb illicit money laundering and illegal capital outflows from India.
Read the original report — Economic Times
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