ED Raids 12 Locations in Online Betting Fraud Probe Against Sontu Jain
The Enforcement Directorate conducted coordinated searches across 12 premises in Nagpur, Gondia, and Ahmedabad on Tuesday in connection with a money-laundering probe into an alleged online gaming and betting syndicate. The operation, led by the ED's Nagpur Sub-Zonal Office under the Prevention of Money Laundering Act, targeted key accused Anant Navratran Jain, alias Sontu Jain, and his associates.
According to law enforcement findings, Jain and his partner Rajesh Rajdev operated the Diamond Exchange betting app, a platform pooling several betting applications including Diamondexchange.com, Wolf777.com, World777.com, Diamondexch, Indianexch, and Lotusbook. Investigators stated that Jain managed the day-to-day operations and hawala channels used to move illicit proceeds, while Rajdev served as a key international operator behind multiple major betting apps.
During the search operations, the ED seized Rs 30.30 lakh in cash and froze more than 100 bank accounts, mutual funds, and shares worth approximately Rs 5 crore. Officials also secured two bank lockers, three luxury vehicles valued at Rs 1.70 crore, and documents related to immovable properties valued at about Rs 16.50 crore. Additionally, investigators seized 11 mobile phones and a laptop containing digital transaction records.
The money-laundering investigation originated from an FIR registered by the Cyber Crime Police Station in Nagpur City under the Indian Penal Code and the Information Technology Act. The probe revealed that Jain allegedly lured a complainant into online betting by promising quick, high returns and provided links to various betting platforms.
According to the agency, the platforms were systematically rigged to prevent users from winning. Whenever the complainant reached a winning position, technical glitches were triggered to cause losses, eventually defrauding the victim of approximately Rs 58.42 crore.
The agency's financial tracking revealed that the complainant was directed to deliver funds in cash to couriers using hawala-style token currency notes or transfer money into designated agent accounts. The funds were then layered through multiple mule accounts held in the names of various individuals and entities before being withdrawn in cash or remitted abroad under the guise of bogus import payments.
