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2d ago

Fairplay Faces Prosecution for ₹4,679 Crore Money Laundering and Illegal IPL Streaming

A special PMLA court has initiated prosecution against Fairplay and 11 accused, with key figures absconding and believed to be in Dubai.

Fairplay app operators laundered ₹4,000 crore abroad, reveals ED charge sheet
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Overview

  • The Enforcement Directorate (ED) has alleged that Fairplay illegally streamed IPL 2023 matches, causing significant financial losses to Viacom18, the official broadcaster.
  • Fairplay is accused of laundering ₹4,679 crore abroad between March 2023 and August 2024 through dummy accounts and shell entities, later reinvesting some funds in India.
  • The platform used offshore entities in Curacao, Dubai, and Malta to obscure ownership and evade Indian regulatory oversight.
  • High-profile celebrities, including actors and athletes, were employed as brand ambassadors to lend legitimacy and attract users to the platform.
  • Chirag and Chintan Shah are in ED custody, while Krish Shah and key associates remain absconding, with the ED alleging they have relocated to Dubai.