ED conducts multi-state raids in Parimatch money laundering probe
ED raids across five states target payment firms and professionals in a money laundering case linked to online betting platform Parimatch.
The Enforcement Directorate (ED) carried out fresh searches across multiple states on Wednesday as part of an ongoing money laundering investigation connected to online betting platform Parimatch and related entities.
Officials said the searches covered five locations in Maharashtra, four in the Delhi-NCR region, two in Rajasthan, and one in Gujarat. The action targeted payment companies, chartered accountants, and company secretaries.
The probe alleges that these payment firms converted betting proceeds into cash with the help of the professionals. Investigators suspect the money was then moved abroad through illegal remittances and what they describe as 'sham' Overseas Direct Investment (ODI) routed via payment gateways on behalf of Parimatch.
The case originates from a First Information Report (FIR) filed by the Mumbai Police's cyber cell against parimatch.com for allegedly duping users through online betting. The ED has previously conducted searches and attached assets in connection with this matter.