The Directorate of Enforcement (ED), Surat conducted a search of 05 bank accounts held at IDFC First Bank, Surat on 27/04/2023, in connection with illegal betting activities carried out through fake dummy bank accounts by Harish alias Kamlesh Jariwala & Others. These accounts were used to stack monies received from individuals/entities that bet on the unlawful online betting apps CBTF247.com and T20 EXCHANGE.com.
Following the search processes, a total of Rs 3.44 Crore was frozen in five bank accounts owned by M/s. Mitalia Enterprise, M/s. R M Enterprise, M/s. D M Enterprises, M/s. Vishwakarma Traders, and M/s. XBT Labs Pvt. Ltd. with IDFC First Bank. In addition, a total of 93 bank accounts (including the aforementioned 05 bank accounts) associated with and implicated in the stacking/transfer of criminal funds have been ordered to have debit frozen.
The ED launched an investigation based on an FIR filed by the DCB in Surat, alleging that the accused Harish alias Kamlesh Jariwala had entered into a criminal conspiracy with Rushikesh Adhikar Shinde and Huzefa Kausar Masakarwala and had obtained identity documents of various people, prepared fake rent agreements in their names, obtained mobile phone SIM cards, licence for dummy firms, and sold the login ID’s/passwords and SIM card. Huzefa Kausar Masakarwala was hired to transmit monies received from illicit betting applications CBTF247.com and T20 EXCHANGE.com.
During PMLA investigations, proceeds of crime, or money earned through these betting applications, have been traced, and bank accounts in the names of numerous fictional businesses have been formed for money routing and layering. More research is being conducted.
