In a positive development in the "Fairplay" probe, the Enforcement Department (ED), Mumbai zonal office, conducted multiple raids in 19 locations across Mumbai & Pune. The raids were conducted under the Prevention of Money Laundering Act (PMLA), 2002.

The search operation was part of an ongoing probe into the case against the betting app "Fairplay" (thefairplay.io). The app was reportedly involved in the illegal streaming of cricket matches mostly IPL, and many other online illegal betting activities including the results of Lok Sabha Elections 2024.

Seizure of Movable Assets Linked to Fairplay

"During the course of search operations, movable assets i.e Cash, Bank funds, Demat account holdings and luxury watches to the tune of Rs. 8 Crore (approx.) were seized/frozen, and various other incriminating documents & digital devices," the ED stated.

The investigation was started by the ED following an FIR filed by the Nodal Cyber Police of Mumbai. The complaint was made by Viacom18 Media Pvt Limited, citing various sections of the Indian Penal Code (IPC), the Information Technology Act, of 2000, and the Copyright Act, of 1957. The FIR was against Fairplay Sport LLC and others for causing a revenue loss exceeding Rs. 100 Crore,(Proceeds of Crime).

"ED investigation revealed that Fairplay made agreements through foreign-based entities in Dubai and Curacao with Indian agencies representing celebrities. It was found that no due diligence was performed by Indian agencies regarding before executing the agreements for its promotion.," the probe agency said in a statement.

Fairplay
Image Source: Khan Global Studies

According to the findings of the investigation, it was also revealed that Fairplay is also involved in collecting funds through various fake or shell bank accounts which were layered through a complex web of bank accounts of shell entities and were then accumulated in Pharma companies involved in fake billing.

The ED alleged that funds from these companies were diverted to overseas shell entities located 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 along with trailing/utilization of funds collected from the public by Fairplay," the probe agency said.

Significantly, all the major promoters of the Mahadev App are also partners/promoters in Fairplay. "The main promoters of Mahadev Online Book are also partners/promoters in multiple such online betting books like “Reddy Anna”, Fairplay” etc Large scale hawala operations are done to siphon off the proceeds of betting proceeds to off-shore accounts." the ED stated on March 1.

You might also be interested in - Mumbai doctor finds human finger inside ice cream, says "I am Traumatized"