ED attaches assets worth Rs 11.14 crore belonging to former cricketers Suresh Raina and Shikhar Dhawan in online betting prob

The Enforcement Directorate (ED) has attached movable and immovable assets valued at Rs 11.14 crore belonging to former Indian cricketers Suresh Raina and Shikhar Dhawan in connection with an ongoing money laundering investigation against the operators of the illegal offshore betting platform 1xBet.

The attached assets include mutual fund investments worth Rs 6.64 crore held in the name of Raina and an immovable property valued at Rs 4.5 crore registered in the name of Dhawan, said the officials linked to the case.

The investigation by ED started after the various State Police agencies registered FIRs against the operators of the illegal offshore betting platform 1xBet. After the investigation, it was observed that 1xBet and its surrogate brand 1xBat, 1xbat Sporting lines were engaged in promoting and facilitating illegal online betting and gambling operations across India.

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The financial probe agency attached the properties under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

What investigation revealed

Investigation revealed that both Suresh Raina and Shikhar Dhawan knowingly entered into endorsement agreements with foreign entities for the promotion of 1xBet through its surrogates. These endorsements were made in return for payments routed through foreign entities to conceal the illicit origin of the funds, which are linked to proceeds of crime generated from illegal betting activities.

Investigation has further revealed that 1xBet operated in India without authorization and used surrogate branding and advertisements to target Indian users through social media, online videos, and print media. Payments for endorsements were structured through layered transactions using foreign intermediaries to disguise the illegal source of funds.

ED said its probe further uncovered that 1xBet operated in India without authorisation, using social media, online videos, and print advertisements to target Indian users. "Funds collected from Indian bettors were routed through over 6,000 mule accounts, which were used to disguise the origin of money. These funds were then moved through multiple payment gateways without proper KYC verification," stated the officials, close to the investigation in the case.

ED estimates that the total amount laundered through these channels exceeds Rs 1,000 crore.

ED's advisory

The Directorate has also issued a public advisory, urging citizens to exercise caution and refrain from participating in or promoting online betting and gambling activities.

It warned that anyone knowingly assisting or allowing their bank accounts or payment wallets to be used for such transactions could face prosecution under the PMLA, which provides for imprisonment of up to seven years and attachment of assets derived from illegal transactions.

ED further advised people to avoid clicking on suspicious advertisements or betting links promising high returns, sharing or allowing others to use their bank accounts or UPI IDs for money transfers of unknown origin, downloading apps, or joining Telegram and WhatsApp groups that promote gambling platforms.

The agency reiterated that illegal betting not only causes economic harm but also fuels money laundering and other unlawful activities, urging citizens to remain vigilant and report suspicious activities to law enforcement agencies.