ED raids 8 locations in Mumbai, Kutch linked to Fairplay betting platform
Oct 29, 2024
Mumbai (Maharashtra) [India], October 29 : The Directorate of Enforcement (ED), has conducted search operations at eight locations in Mumbai and Kutch, Gujarat as part of the ongoing probe in the case of "Fairplay" which was involved in illegal broadcasting of Cricket/IPL matches and various online betting activities.
As per the agency's official release, during the search operations, movable assets like cash, bank funds and silver bars to the tune of Rs 4 Crore (approx.) were seized along with various other incriminating documents, digital devices and immovable property-related documents.
ED initiated the investigation based on FIR registered by Viacom18 Media Pvt Limited with Nodal Cyber Police, Mumbai against Fairplay Sports LLC and others various sections of IPC,1860, Information Technology Act, 2000 and Copyright Act, 1957 for causing loss of revenue of more than Rs.100 Crore (Proceeds of Crime), the release stated.
ED investigation revealed that Krish Laxmichand Shah (the key person behind Fairplay ) has registered various companies such as Play Ventures N.V and Dutch Antilles Management N.V at Curacao, Fair Play Sport LLC, Fairplay Management DMCC in Dubai and Play Ventures Holding Limited at Malta for the operations of Fairplay. ED investigation revealed that Fairplay is being operated from Dubai.
The search action was carried upon persons providing technical and financial management support services to Fairplay. Incriminating documents seized during the search also revealed the purchase of high-value immovable/ movable assets in India by the persons involved amounting to more than Rs. 100 Crore.
Earlier, ED has conducted search operations in this case on 12.06.2024, 27.08.2024 & 27.09.2024 and has seized/frozen movable assets to the tune of Rs. 113 Crore (approx.) along with various other incriminating documents & digital devices. Total seizure in this case till date amounts to Rs. 117 Crore (approx.).
Further investigation is under progress.
