ED's Crackdown on Fairplay: A Web of Betting and Laundering Unraveled

The Enforcement Directorate (ED) conducted searches related to money laundering involving the website Fairplay, accused of illegal online betting and broadcasting IPL matches. Assets worth Rs 4 crore were seized during raids in Mumbai and Kutch. The case originates from a complaint by Viacom18 over revenue losses.

The Enforcement Directorate escalated its probe into a burgeoning money laundering operation, targeting the website Fairplay for alleged illicit online betting and unauthorized broadcasting of IPL matches. Fresh raids led to the seizure of assets worth Rs 4 crore from sites in Mumbai and Gujarat's Kutch district.

According to the ED, the crackdown follows an investigation spurred by a complaint lodged by Viacom18 Media. The complaint alleged significant revenue losses caused by Fairplay Sport LLC, based on illegal activities surrounding IPL content and prospective election betting.

Central to the operation, according to sources, is Krish Laxmichand Shah. He is said to operate through numerous entities registered in places like Curacao, Dubai, and Malta. The ED's continued efforts have thus far resulted in the seizure or freezing of assets worth Rs 117 crore, as the agency delves deeper into uncovering the full extent of the financial network.

(With inputs from agencies.)