Particle.news

Download on the App Store

ED raids three cities on May 29, seizes Rs 39 lakh and freezes Rs 1.5 crore in online gaming money laundering probe

The raids target mule accounts allegedly used by an ex-Punjab & Sind Bank officer to funnel nearly Rs 24 crore of misappropriated fixed deposit proceeds into gaming platforms

Image
Image

Overview

  • Search operations were carried out at seven locations across Delhi, Mumbai and Bengaluru under the Prevention of Money Laundering Act
  • Officials seized Rs 39 lakh in cash, digital devices and SIM cards and froze Rs 1.5 crore held in 48 mule accounts linked to GOA247.live
  • Former Punjab & Sind Bank officer Bedanshu Shekhar Mishra is accused of fraudulently liquidating 46 fixed deposit accounts worth Rs 52.99 crore using staff credentials
  • Investigators say nearly Rs 24 crore of the stolen funds were routed via a network of mule accounts to platforms including GOA247.live, Indibet.com and Betway
  • Earlier this month, the ED attached movable and immovable assets valued at Rs 2.56 crore under the PMLA and continues to trace the remaining illicit proceeds