ED conducts fresh raids in case of online betting, illegal IPL broadcast

Quick Summary:

The Enforcement Directorate said on Tuesday it has undertaken fresh searches in a money laundering case against a website that allegedly indulged in online betting on 2024 Lok Sabha election results apart from an illegal broadcast of IPL cricket matches.

Cash, bank deposits and silver bars worth about Rs 4 crore were seized along with various other "incriminating" documents, digital devices and immovable property-related documents during the raids conducted on October 25 in Mumbai and in Kutch in Gujarat, the ED said in a statement.

The action was taken against people providing technical and financial management support to the website named "Fairplay", which was allegedly involved in illegal activities.

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Category: BusinessFinance

Markets: IndiaMalta

Topics: Online gambling ED raid Betting Gambling Illegal IPL broadcast

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 16:07:56 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 382 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23325106

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