In a major development, the Enforcement Directorate (ED) has provisionally attached assets worth ₹11.14 crore belonging to former Indian cricketers Suresh Raina and Shikhar Dhawan under the Prevention of Money Laundering Act (PMLA), 2002. The action is part of the ongoing probe into the illegal offshore betting platform 1xBet and its surrogate brands operating in India.
Assets Worth ₹11.14 Crore Under Attachment
According to sources, the ED’s headquarters has attached mutual fund investments worth ₹6.64 crore held in the name of Suresh Raina, and an immovable property valued at ₹4.5 crore belonging to Shikhar Dhawan.
The attachment order follows detailed financial analysis and tracing of money trails linked to proceeds of crime generated through illegal betting and gambling operations in India.
Illegal Betting Platform Under Probe
The ED’s action stems from multiple FIRs filed by various state police agencies against the operators of the illegal offshore betting website 1xBet and its surrogate brand 1xBat (Sporting Lines).
Sources revealed that 1xBet operated in India without authorization, using surrogate branding and advertising to promote its betting platform through social media, online videos, and print media, targeting Indian users in violation of Indian laws.
Endorsements by Cricketers Under Scanner
The investigation has uncovered that both Suresh Raina and Shikhar Dhawan knowingly entered into endorsement agreements with foreign entities representing 1xBet and its surrogates.
These endorsements, sources said, were made in return for payments routed through foreign entities to conceal the illicit origin of the funds. The money is alleged to be linked to proceeds of crime generated from illegal betting activities in India.
Layered Transactions and Foreign Routing
According to sources, payments for the endorsements were structured through layered transactions involving foreign intermediaries. This complex network was allegedly designed to disguise the illegal source of the funds and make them appear legitimate.
The ED’s probe has reportedly traced multiple such transactions between offshore accounts and domestic entities, suggesting a deliberate attempt to launder proceeds of illegal betting operations.
Wider Crackdown on Illegal Betting and Celebrity Links
The latest attachment order marks a significant escalation in the ED’s crackdown on illegal online betting and gambling networks that use surrogate advertising and celebrity endorsements to legitimize their operations in India.
Sources indicate that more celebrity-linked transactions and endorsement contracts are under scrutiny as part of the ongoing money laundering probe.
Further Investigation Underway
The ED continues to pursue multiple leads in coordination with state police units and financial intelligence agencies. The focus remains on tracking foreign remittances, endorsement contracts, and layered financial structures connected to 1xBet and its associated entities.
Further investigation is in progress to determine the full extent of the money trail and identify other individuals or entities involved in the laundering network.
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