Four Arrested in Rs 400 Crore Online Betting Scam Linked to Chinese Nationals
The Enforcement Directorate (ED) has arrested four individuals connected to a Rs 400 crore online betting and gaming scam linked to Chinese nationals. The fraud, executed through the 'Fiewin' app, involved money laundering where funds were converted into cryptocurrency and credited to wallets in China.
- Country:
- India
Four individuals have been taken into custody in connection with a Rs 400 crore online betting and gaming scam allegedly linked to Chinese nationals, the Enforcement Directorate (ED) announced on Friday.
Arun Sahu, Alok Sahu, Chetan Prakash, and Joseph Stalin were arrested under the Prevention of Money Laundering Act (PMLA). The arrests stem from a FIR filed at Kolkata's Cossipore police station, which involved unknown persons allegedly cheating and conspiring with online gamers through the 'Fiewin' app.
The investigation revealed that funds generated from the Fiewin app scam were credited into eight Binance wallets owned by Chinese nationals, with these transactions traced back to the Chinese mainland. The ED discovered that Chinese nationals communicated and directed the four accused via Telegram. The funds, generated from gullible online gamers, were then laundered through the accounts of Indian nationals acting as 'recharge persons,' converting the money into cryptocurrency.
(With inputs from agencies.)
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