The Mumbai zonal office of the Enforcement Directorate (ED) conducted search operations at 17 places in the country. In the money laundering case related to illegal betting platform Parimatch, search operation was conducted in 5 states including Rajasthan, Maharashtra, Uttar Pradesh, Delhi, Gujarat and Union Territory Daman. ED took this action in many states in the case related to the illegal betting platform Parimatch of Cyprus. In the case worth Rs 3000 crore, ED has so far frozen assets worth Rs 112 crore. Parimatch deposited money through Mule accounts, payment intermediaries. Here banking agents of banks and mobile companies were misused. On Tuesday, ED also conducted search operations in many areas of the country.
The Enforcement Directorate’s Mumbai zonal office has seized movable assets amounting to Rs 1.56 crore, including cash of around Rs 1.2 crore, and has frozen funds amounting to Rs 3.8 crore lying in various bank accounts during searches carried out under the Prevention of Money.
— ANI (@ANI) May 27, 2026
What is the whole matter?
ED has started investigation on the basis of FIR registered against Parimatch.com at Cyber Police Station in Mumbai. It is alleged in this FIR that Parimatch cheated users through its online betting platform. The investigation so far has revealed that they duped investors by luring them with high returns and earned more than Rs 3000 crore in a year. The investigation so far has also revealed that Parimatch and its associates had created a complex network of ‘mule accounts’ (rental accounts), payment intermediaries and financial channels to collect, layer and transfer users’ money.
In some cases, the process of withdrawing users’ money was completed without any direct external payment. That is, no direct payment was made from the platform’s accounts. Instead, money deposited by other users is sent in multiple installments directly to the withdrawing user’s bank account or UPI-ID. By doing so, they hid the true path of the money and avoided direct payment links.
Investigation has also revealed that the deposited and withdrawn money of the users was sent through several ‘current accounts’. These accounts were opened in the name of companies related to software, fintech and technology, which were actually doing business work. It is alleged that these accounts were used to deposit users’ money and make payments under the guise of ‘vendor payments’, ‘merchant transactions’ and ‘payment gateway services’.
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