With this latest action, the total value of assets attached in the case has risen to approximately ₹37.23 crore, as the probe continues.

How the Alleged Betting Network Operated

According to the agency’s findings, the platform allegedly operated in India without authorization and promoted online betting through multiple mirror websites designed to evade detection.

Investigators say the operation used a concealed payment mechanism involving:

• dynamically generated UPI IDs
• mule bank accounts
• layered transactions

This structure allegedly helped disguise fund flows and conceal the identities of ultimate beneficiaries while laundering proceeds of crime.

Advertising Trail Leads to Digital Platforms

The investigation also uncovered links between promotional campaigns and corporate entities.

The ED stated that Parthtech Developers LLP, operator of cricket platforms CREX and OneCricket, had entered into structured advertising agreements with Switzerland-based Bwise Media AG for the promotion of betting platforms including 1xBet.

Statements recorded under statutory provisions indicated that advertisements for the betting platform were:

• directly booked,
• geo-targeted for Indian audiences,
• and executed via an in-house ad server system known as “Parth Adex.”

Public Advisory Issued

Authorities have issued a public warning urging citizens to remain cautious about unauthorized betting platforms operating in India.

The ED advised the public:

• not to use illegal betting or gambling websites,
• not to transfer funds to suspicious UPI IDs or payment links,
• and not to share personal or banking details on such platforms.

Citizens with information about illegal betting operations or payment channels have been encouraged to report it to enforcement agencies.

Why This Case Matters

The case highlights growing concerns among regulators about digital betting networks using fintech tools to bypass oversight. Investigators say the use of dynamically generated payment handles and layered transactions reflects increasingly sophisticated financial structures designed to obscure money trails.

Financial crime experts note that enforcement agencies are now focusing not only on platform operators but also on:

• payment infrastructure,
• advertising supply chains,
• and intermediary networks.

Investigation Ongoing

Officials confirmed that further investigation is underway and additional attachments or enforcement actions may follow depending on evidence gathered.

Also Read: ED Raids in Mumbai Uncover ₹59 Crore Assets in Probe Into Alleged Fraud at Lodha Developers

The post ED Attaches ₹18.10 Crore Assets in 1xBet Case; Probe Finds Illegal Betting Network Using UPI Mule Accounts appeared first on Square Feat India.

The new attachment—made under the Prevention of Money Laundering Act (PMLA)—covers 18 properties, fixed deposits, bank balances, and unquoted investments linked to Reliance Infrastructure Ltd., Reliance Power Ltd., Reliance Value Services Pvt. Ltd., Reliance Venture Asset Management Pvt. Ltd., Phi Management Solutions Pvt. Ltd., Adhar Property Consultancy Pvt. Ltd., and Gamesa Investment Management Pvt. Ltd.

A Major Crackdown in the Yes Bank–Reliance Finance Fraud Case

The latest action is connected to the Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL) cases, in which ED has been investigating large-scale diversion of public funds.

According to the agency, Yes Bank had invested:

• ₹2,965 crore in RHFL instruments, and
• ₹2,045 crore in RCFL instruments

between 2017–2019.
By 2019, these investments turned non-performing, leaving Yes Bank with outstanding dues of:

• ₹1,353.50 crore (RHFL)
• ₹1,984 crore (RCFL)

ED’s probe revealed that RHFL and RCFL had received over ₹11,000 crore in public money which was then diverted through complex routes.

The Mutual Fund–Yes Bank–Reliance Route

A key finding is the alleged round-tripping of public money:

• As per SEBI rules, Reliance Nippon Mutual Fund could not invest directly in Anil Ambani-controlled finance companies.
• Instead, funds from the mutual fund schemes were routed to Yes Bank, which then invested in RHFL and RCFL.
• ED calls this a “circuitous route” designed to bypass conflict-of-interest regulations.

Fraudulent Diversions Across Group Companies

The agency states that various Anil Ambani group companies—including Reliance Communications Ltd. (RCOM), Reliance Home Finance Ltd., Reliance Commercial Finance Ltd., Reliance Infrastructure Ltd., and Reliance Power Ltd.—were involved in fraudulent diversion of bank loans.

In the larger RCOM case:

• Loans between 2010 and 2012 amassed to ₹40,185 crore outstanding
• 9 banks have declared these loan accounts as fraud

ED claims to have uncovered:

• ₹13,600 crore used for evergreening of loans
• ₹12,600 crore diverted to connected parties
• ₹1,800 crore invested in FDs and mutual funds, later liquidated and routed back
• Misuse of bill discounting
• Funds siphoned abroad through foreign remittances

What ED Has Attached Now

The fresh attachments worth ₹1,120 crore include:

Major Mumbai Properties

• Reliance Centre, Ballard Estate
• Commercial building (Reliance Infrastructure Ltd.), MIDC, Andheri East
• Residential properties at Santacruz
• A guest house also at Santacruz

Assets in Chennai & Panvel

• 231 residential plots in Chennai (Reliance Value Services Pvt. Ltd.)
• 7 residential flats in Chennai and Panvel

Financial Assets

• Fixed deposits and bank balances of:
  • Reliance Value Services Pvt. Ltd.
  • Reliance Venture Asset Management Pvt. Ltd.
  • Phi Management Solutions Pvt. Ltd.
  • Adhar Property Consultancy Pvt. Ltd.
  • Gamesa Investment Management Pvt. Ltd.

ED: “Committed to Restituting Public Money”

The agency said it remains focused on pursuing large-scale financial offenders and ensuring recovery of “proceeds of crime”.

ED stated that further investigation is underway across all linked entities and individuals, including Anil Ambani, RCOM, RHFL, RCFL, and other group companies.

Also Read: ED Tightens Noose on Anil Ambani Group: Assets Worth ₹1,120 Crore Attached, Total Seizures Cross ₹10,117 Crore

The post ED Tightens Noose on Anil Ambani Group: Assets Worth ₹1,120 Crore Attached, Total Seizures Cross ₹10,117 Crore appeared first on Square Feat India.