Archive · 14 Aug 2025
ED Freezes Funds, Seizes Cards in Parimatch Money Laundering Probe
The Enforcement Directorate (ED) is investigating Parimatch, a betting app, for money laundering.
They seized ₹110 crore from fake bank accounts and over 1,200 credit cards.
Parimatch allegedly lured users with promises of big wins, collecting over ₹3,000 crore.
The company used methods like fake accounts, hawala operators, and cryptocurrency to move money.
The ED found the app used payment companies rejected by RBI.
ED froze ₹110 crore in mule accounts linked to Parimatch.
1,200+ mule credit cards were seized during the investigation.
The investigation concerns the Cyprus-based betting platform Parimatch.
Parimatch allegedly attracted users through aggressive marketing and celebrity partnerships.
The company allegedly generated over ₹3,000 crore by luring users with high returns.
- Who
- The Enforcement Directorate (ED) is investigating Parimatch.
- What
- The Enforcement Directorate (ED) is investigating Parimatch for alleged money laundering.
- When
- Searches were conducted on August 12.
- Where
- Searches were conducted in Mumbai, Noida, Jaipur, Surat, Madurai, Kanpur, and Hyderabad.
- Why
- The ED is investigating Parimatch for allegedly swindling public money through its betting platform.
Parimatch
Enforcement Directorate (ED)
Allegations of Fraud and Money Laundering
Parimatch
N/A
Enforcement Directorate (ED)
The Enforcement Directorate (ED) alleges Parimatch defrauded users through its betting platform.
- Investigation Agency
- Enforcement Directorate (ED)
- Platform in Question
- Parimatch
- Funds Frozen
- ₹110 crore
- Credit Cards Seized
- 1,200+
- Alleged Crime
- Money Laundering
- Estimated Amount Generated
- Over ₹3,000 crore
Sources
Enforcement Directorate questions Suresh Raina in money laundering case involving betting app - Telegraph India
Lakshmi Manchu appears before ED in illegal betting app investigation
ED questions Raina in online betting app case
ED Raids 17 Cities, Freezes Rs 110 Crore In Rs 3,000-Crore Parimatch Online Betting Probe
Illegal betting app: ED freezes Rs 110 cr worth bank funds; seizes 1,200 credit cards
ED Freezes Rs 110 Crore In Mule Accounts in Parimatch Betting Probe
ED freezes Rs 110 crore in Parimatch betting platform case
Illegal betting app: ED freezes ₹110 crore worth bank funds; seizes 1,200 credit cards
3,000 crore rupees Bet fraud in Cyprus: ED suspends mule accounts worth Rs 110 crore
₹3,000 Crore Cyprus-Based Betting Fraud: ED Freezes Mule Accounts Worth ₹110 Cr
From mule accounts to cryptocurrency, ED tracks how Parimatch routed users’ funds, freezes Rs 110 crore
Parimatch Money Laundering Probe: ED Freezes ₹110 Crore In Bank Accounts, Uncovers Network Of Mule Accounts, Hawala Links & Crypto Transfers
₹110 cr parked in mule accounts and 1,200 benami credit cards seized in Parimatch PMLA case
₹110 cr parked in mule accounts and 1,200 benami credit cards seized in Parimatch PMLA case
