Enforcement Directorate [ED] raided firms at 15 locations on 28-August-2020. Locations are present in Delhi, Gurgaon, Mumbai and Pune. ED has frozen INR 47 Crore belonging to the firms which are operating Chinese Betting Apps. Case was filed under the provisions of Prevention of Money Laundering Act related to illegal betting.
ED conducted raid at offices of Charted Accountants and Directors also. They were operating Chinese Betting Apps on the websites. ED has seized 17 hard disks, 5 laptops, phones, crucial incriminating documents and has also frozen around 47 Crore rupees held in four HSBC Bank Accounts.
Action By Hyderabad Police
The agency had initiated investigation based on the FIRs lodged by Cyber Crime Station of Hyderabad Police. Police arrested few people. And in the investigation they found that Chinese floated multiple companies with the help of Indian Charted Accountants. Initially the companies ran with dummy directors. Later few Chinese visited India and took over as Directors.
Say No To Betting Apps
Don’t get trapped into the betting apps. There are many other apps which run on Share Market and loot your money. You might get little profits initially but you will loose more later. Don’t go after easy money. No one is going to give you INR ₹100 for INR ₹1. Stay secure, safe and happy.
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