ED Mumbai Searches 12 Locations Across States in Parimatch Betting Case

The Enforcement Directorate (ED) Mumbai conducted searches under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, at 12 locations in connection with an investigation into the illegal betting platform Parimatch and others.

The search operations covered multiple premises spread across different states, including five locations in Maharashtra, four in Delhi-NCR, two in Rajasthan, and one in Gujarat.

The action focused on various entities and intermediaries involved in managing and routing funds for the betting platform. Among the premises covered were payment companies that converted betting proceeds into cash through Cash Management System agents.

The searches also targeted Chartered Accountants and Company Secretaries who allegedly facilitated shifting the proceeds of the betting operations out of the country through illegal remittances and sham Overseas Direct Investment (ODI) transactions.

In addition, premises connected to payment gateways that handled pay-in and pay-out services on behalf of Parimatch were searched by the agency as part of the ongoing probe.