ED Raids 12 Locations in Parimatch Betting Probe, Freezes Rs 112 Crore Assets

The Directorate of Enforcement (ED) has conducted searches at 12 locations across Maharashtra, Rajasthan, Delhi-NCR, and Gujarat as part of an ongoing money laundering probe into the Cyprus-based illegal online betting platform Parimatch.

The search operations were carried out under the provisions of the Prevention of Money Laundering Act (PMLA). Following the operation, the agency froze assets worth Rs 112 crore linked to the case.

According to the investigation agency, the searches covered five locations in Maharashtra, four locations across Delhi-NCR, two in Rajasthan, and one in Gujarat in connection with the case involving Parimatch and associated entities.

The premises searched by the ED included those linked to payment companies. The central agency stated that these entities were allegedly involved in converting betting proceeds into cash through Cash Management System (CMS) agents.