What action has ED taken against former cricketers Suresh Raina and Shikhar Dhawan? Know the whole matter
The Enforcement Directorate (ED), acting under the Prevention of Money Laundering Act (PMLA), 2002, has provisionally attached movable and immovable properties worth Rs 11.14 crore belonging to former Indian cricketers Suresh Raina and Shikhar Dhawan. According to officials, the attachment includes mutual fund investments worth Rs 6.64 crore in Suresh Raina's name and an immovable property worth Rs 4.5 crore in Shikhar Dhawan's name.
Illegal offshore betting platform
The action taken by the ED headquarters office is part of a money laundering investigation into an illegal offshore betting platform called 1xBet. The investigation is based on FIRs filed by several state police agencies.
The investigation revealed that 1xBet and its surrogate brands, 1xBat and 1xBat Sporting Lines, were involved in promoting and operating illegal online betting and gambling businesses in India.
Raina and Dhawan Accused of Involvement in Promotional Deals
The ED investigation revealed that Suresh Raina and Shikhar Dhawan entered into agreements with foreign entities to promote 1xBet and its surrogate brands. Both players received payments from these companies for advertising and promotions, which were allegedly routed through foreign channels to conceal the source of the illicit funds.
1xBet operated in India without authorization
According to the investigation report, 1xBet operated in India without authorization and targeted Indian users through social media, online videos, and print advertisements. The payments for endorsements were structured in layered transactions through foreign intermediaries to conceal the source of the illicit funds.
The ED has stated that this action was taken based on a preliminary investigation and further investigation is ongoing. The agency is now investigating which other players or agencies are involved in this network and whether it is part of a money laundering racket.