New Delhi: The Enforcement Directorate (ED) has issued notices to tech giants Google and Meta in connection with its ongoing investigation into alleged money laundering linked to betting applications, official sources said.
As part of the probe, the ED has summoned representatives from both companies to appear before its Delhi headquarters on July 21.
According to sources, “Google and Meta platforms are promoting betting apps through advertisements and facilitating their reach to users.”
The agency is examining the role of digital platforms in enabling the promotion of these illegal apps, which are under scrutiny for potential violations of the Prevention of Money Laundering Act (PMLA).
The move comes days after the ED searched four locations in Mumbai in a major dabba trading and online betting case, seizing unaccounted cash of Rs 3.3 crore, along with luxury watches, jewellery, foreign currency, and luxury vehicles. Cash-counting machines were also discovered during the search operations.
The Enforcement Directorate is examining financial and operational activities of ‘dabba trading apps’ involved in illegal trading and betting platforms, namely VMoney, VM Trading, Standard Trades Ltd, IBull Capital Ltd, LotusBook, 11Starss, and GameBetLeague.
As per officials, “online betting platforms operated through white-label apps and ADMIN rights exchanged on a profit-sharing basis.”
“Hawala operators and fund handlers identified, with digital and financial records, are being examined,” the officials, privy to the development, told ANI.
As per ED, a Prevention of Money Laundering Act (PMLA) investigation initiated in the case on the basis of First Information Report registered at Lasudiya Police Station in Madhya Pradesh’s Indore on January 9 this year, invoking Sections 319(2) and 318(4) of Bhartiya Nyaya Sanhita (formerly IPC Sections 419 and 420).
ED investigations revealed that “Vishal Agnihotri, the beneficial owner of VMoney and 11Starss, acquired ADMIN rights of the LotusBook betting platform on a 5 per cent profit-sharing arrangement. He subsequently transferred these rights to Dhaval Devraj Jain, retaining 0.125 per cent profit while Jain held 4.875 per cent.”
As per the officials, “Dhaval Jain, along with his associate John States alias Pandey, developed a white-label betting platform and supplied it to Vishal Agnihotri for running 11Starss.in.”
“Mayur Padya alias Padya, a hawala operator, handled cash-based fund transfers and payments for the betting operations,” added the officials earlier. (With inputs from ANI)
