Indian ED seizes assets allegedly linked to illegal online gambling

The Enforcement Directorate has seized assets worth Rs 8.89 crore (US$1.35m).

India.- The ED has provisionally seized assets, including 10 properties and five bank accounts, valued at approximately Rs 8.89 crore (US$1.35m) under the Prevention of Money Laundering Act, 2002. This move is part of an ongoing investigation based on a first information report (FIR) filed by the Madhya Pradesh police. The charges cover various sections of the IPC 1860 and the Public Gambling Act 1867.

The investigation centres around the operation of illegal online betting apps such as Dhangames and other Satta-Matka apps in Madhya Pradesh, Karnataka and other regions. Police allege the operations laundered funds through a complex network of fake bank accounts. A suspect named Lokesh Verma is alleged to have misused Know Your Customer (KYC) documents belonging to third parties to open accounts. The laundered proceeds were allegedly used to acquire properties.