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Suresh Raina & Shikhar Dhawan: ED Attaches Assets in Major 1xBet Money Laundering Crackdown
Meta Description: Former cricketers Suresh Raina and Shikhar Dhawan face ED action with Rs 11.14 Cr assets attached in an illegal 1xBet betting and money laundering investigation. Learn more.
The Directorate of Enforcement (ED) has taken significant action against former Indian cricketers Suresh Raina and Shikhar Dhawan. Their assets, totaling Rs 11.14 crore, have been provisionally attached under the Prevention of Money Laundering Act (PMLA), 2002. This move is part of an ongoing investigation into illegal offshore betting and money laundering activities.
ED’s Action: What Was Attached?
The attached assets include mutual fund investments belonging to Suresh Raina, valued at Rs 6.64 crore. Additionally, an immovable property owned by Shikhar Dhawan, worth Rs 4.5 crore, has been seized by the authorities.
This attachment comes as a serious development in the ED’s widespread probe into illicit online betting platforms operating in India.
The 1xBet Connection: Unpacking the Illegal Network
The ED’s investigation was triggered by multiple First Information Reports (FIRs) filed by various State Police agencies. These FIRs targeted the operators of 1xBet, a notorious illegal offshore betting platform.
Investigations revealed that 1xBet, along with its surrogate brands like 1xBat and 1xbat Sporting lines, actively promoted and facilitated illegal online betting and gambling across India. These platforms operated without the necessary authorization within the country.
How 1xBet Operated Illegally
- Utilized surrogate branding and advertisements to reach Indian users.
- Payments for endorsements were channelled through foreign entities.
- Employed complex, layered transactions to conceal the illegal source of funds.
- Registered merchants on payment gateways without proper KYC verification.
Raina & Dhawan’s Alleged Role
The ED alleges that both Suresh Raina and Shikhar Dhawan consciously entered into endorsement agreements. These agreements were with foreign entities to promote 1xBet through its surrogate brands.
The payments for these endorsements were routed through intricate foreign channels. This method was reportedly used to mask the illicit origin of the funds, which were directly linked to illegal betting activities.
The Broader Money Laundering Probe
The investigation has uncovered a vast network of illegal financial operations. The scale of the money laundering involved is staggering, exceeding Rs 1,000 crores.
Authorities have identified over 6,000 “mule accounts” used for deposits. Funds collected from users were routed through multiple payment gateways, further complicating their traceability.
Key Findings from ED’s Investigation:
- Over 6,000 mule accounts identified.
- Mismatch between declared business activities and transaction patterns of merchants.
- Money laundering operations exceeding Rs 1,000 crores.
- Recent searches led to the seizure of incriminating evidence.
- More than 60 bank accounts linked to payment gateways have been frozen.
- Over Rs 4 crores in funds have been frozen as the investigation continues.
ED’s Public Advisory: Stay Vigilant Against Illegal Betting
The ED has issued stern public advisories, urging citizens to exercise extreme caution regarding online betting and gambling platforms. They emphasize the serious economic harm and the facilitation of money laundering these activities cause.
Citizens are strongly advised not to share personal or business bank accounts, debit cards, UPI IDs, or payment wallets for receiving or transferring unknown funds. The public should also avoid clicking on social media advertisements promising high returns or betting offers.
Downloading mobile applications or joining messaging channels that promote online betting or gambling is highly discouraged. Anyone knowingly assisting in such activities could face severe prosecution under PMLA, 2002, risking imprisonment for up to seven years and asset attachment.
The ED encourages everyone to report suspicious transactions or advertisements to law enforcement agencies. If you suspect your account has been misused, immediately inform your bank and local police authorities.
Conclusion: A Crackdown on Illegal Betting Continues
The provisional attachment of assets belonging to Suresh Raina and Shikhar Dhawan underscores the ED’s resolve to combat illegal online betting and associated money laundering. This case highlights the sophisticated methods used by illicit platforms like 1xBet and the serious legal repercussions for individuals found to be involved, directly or indirectly.
As the investigation continues, more details are expected to emerge, reinforcing the need for public awareness and vigilance against such fraudulent schemes.
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