1 day ago
ED Traces ₹900 Crore Parimatch Betting Proceeds Overseas
India’s Enforcement Directorate is investigating money allegedly earned through the Parimatch online betting platform.
The agency says more than ₹900 crore was generated and moved through complicated financial channels.
Some transactions were allegedly made to look like overseas investments or payments for services.
Investigators also examined payment companies and travel operators.
They say some money moved through merchant accounts, cash-transfer networks and bank accounts.
The agency alleges that cash was later passed to hawala operators and cryptocurrency intermediaries.
Searches were conducted at 17 locations in five Indian states and Delhi.
The ED says it seized or froze assets worth about ₹150 crore so far.
The Enforcement Directorate said it traced more than ₹900 crore allegedly generated through the Cyprus-based Parimatch betting platform.
The agency searched 17 locations across Maharashtra, Rajasthan, Delhi, Gujarat and Uttar Pradesh on September 2, 2026.
Investigators alleged that about ₹2,500 crore was routed through sham overseas investments and bogus service imports to conceal its origin.
The searches resulted in the seizure of ₹2.11 crore in movable assets, including ₹61 lakh cash and a 1-kilogram gold bar, while ₹37 crore was frozen.
The ED said total frozen or seized assets in the case have reached approximately ₹150 crore, with cash, hawala and cryptocurrency channels allegedly involved.
- Who
- The Enforcement Directorate is investigating alleged money laundering linked to the Cyprus-based Parimatch betting platform, payment firms, travel operators and other intermediaries.
- What
- The ED traced more than ₹900 crore in alleged betting proceeds and investigated sham overseas investments, bogus service imports, cash transfers, hawala and cryptocurrency channels.
- Where
- The searches took place across Maharashtra, Rajasthan, Delhi, Gujarat and Uttar Pradesh, while investigators examined transfers to overseas beneficiaries.
- When
- Searches were conducted on September 2, 2026; the agency’s findings were reported on September 3, 2026.
- Why
- The ED alleges that the transactions were used to layer, disguise and transfer betting proceeds abroad.
Key facts
- Agency
- Enforcement Directorate
- Alleged proceeds traced
- More than ₹900 crore
- Locations searched
- 17 locations across Maharashtra, Rajasthan, Delhi, Gujarat and Uttar Pradesh
- Alleged routing through mechanisms
- Approximately ₹2,500 crore
- Latest assets seized
- Approximately ₹2.11 crore, including ₹61 lakh cash and a 1-kilogram gold bar
- Funds frozen in latest action
- Approximately ₹37 crore
- Total assets frozen or seized in case
- Approximately ₹150 crore
Sources
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