In a case involving illegal online betting and gambling, the Directorate of Enforcement (ED) has temporarily attached movable property totalling Rs. 5.87 billion in the form of balances in the bank accounts of various people and entities in accordance with the Prevention of Money Laundering Act, 2002.
The Directorate General of Goods and Services Tax Intelligence (DGGI), Bengaluru, filed a complaint alleging that certain businesses were engaged in online gambling, betting, and other suspicious illegal activities, and the ED launched an investigation under the PMLA on the basis of the FIR.
The results of the ED investigation showed that the accused Shyamala N and Umar Farooq created many firms using other people’s papers. The company’s HR manager bought many SIM cards illegally and connected them to bank accounts so she could do online business.
The group entities, including Rockstar Interactive, Indie World Studio, Falcon Entertainment Agencies, The Next Level Technology, Rift Gamer Technologies, Reality Code Technology, Tenes Solutions, Electronic Virtual Solutions, Zazago Systems, Zynga Interactive, Whale Bytes Technology, Iobitcode Interactive Agency, Oculus Valve Entertainment, and Nestra Web Solutions, were further revealed to have been founded with the deceptive intent to defraud the public out of money. Further research is now being conducted.
