The Enforcement Directorate has been conducting searches at various locations in Mumbai, Delhi-NCR, Hyderabad, Jaipur, Madurai and Surat in connection with a money laundering case involving the illegal betting app, Parimatch.
According to ED, preliminary investigation indicates that funds amounting to over 2,000 crore rupees were collected from duped users into mule accounts, which were then layered through multiple payment aggregators and domestic money transfer agents.
The ED added that these funds were subsequently layered and moved through crypto wallets, cash withdrawals via ATMs in a locality in Tamil Nadu, low-value UPI transfers, and other methods.
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