Enforcement Directorate Cracks Down on Illegal IPL Betting App ‘Fairplay’
Massive Raids on ‘Fairplay’ App Premises
The Enforcement Directorate (ED) conducted extensive raids on Thursday targeting premises associated with the illegal betting app ‘Fairplay’. The app has been implicated in unauthorized broadcasting of IPL matches and illegal betting on both cricket and Lok Sabha elections. The illegal activities caused a financial loss of Rs 100 crore to the official IPL broadcaster, Viacom 18.
Involvement of Bollywood Celebrities
Raids were carried out at Mumbai-based talent management agencies that engaged Bollywood celebrities and actors to promote the ‘Fairplay’ app. These celebrities called upon audiences to watch IPL 2023 on the app. Additionally, searches targeted entry operators in Mumbai who facilitated the diversion of payments made to these actors through the talent management agencies.
Seizure of Assets and Evidence
During the raids, the ED seized cash, details of bank funds, Demat accounts, and luxury watches worth around Rs 8 crore. The agency also recovered various incriminating documents and digital devices. The investigation has revealed significant financial irregularities tied to the app’s promotion and operations.
Legal Action and Financial Losses
A legal complaint was filed by Viacom 18 against the promoters of the ‘Fairplay’ app and the actors who promoted it on social media. The complaint highlighted a revenue loss of over Rs 100 crore due to the app’s unauthorized activities. The ‘Fairplay’ app is part of the larger Mahadev Book app network.
Celebrity Summons and Money Laundering Probe
Previously, rapper Badshah and actors Tamannah Bhatia and Sanjay Dutt were summoned for questioning by Maharashtra Police’s Cyber Crime wing. The ED is currently investigating the money laundering aspects of the case, focusing on the financial trails and the involved entities.
International Connections and Complex Financial Web
The investigation uncovered agreements made by ‘Fairplay’ with Indian agencies representing Bollywood celebrities through foreign-based entities in Dubai and Curacao. These agreements lacked due diligence from the Indian agencies. The funds collected by ‘Fairplay’ were routed through various bogus bank accounts and layered through a network of shell entities.
Overseas Siphoning of Funds
Funds from these shell entities were further diverted to overseas entities in Hong Kong SAR, China, and Dubai. The ED has identified over 400 bank accounts used for these operations, which are currently under examination. The complexity of the financial transactions highlights the extensive reach of the illegal betting network.
The ongoing investigation aims to dismantle the financial and operational structure of the ‘Fairplay’ app and bring those involved to justice.(Dubai7 realmoneygame)