The Enforcement Directorate (ED) has taken action against former Indian cricketers Suresh Raina and Shikhar Dhawan under the Money Laundering Act. The agency has attached assets worth approximately ₹11.14 crore of both the players. This includes mutual fund investments worth ₹6.64 crore in the name of Suresh Raina and assets worth ₹4.5 crore in the name of Shikhar Dhawan. ED has taken this action under the Prevention of Money Laundering Act (PMLA), 2002. The investigation was initiated on the basis of multiple FIRs related to an illegal offshore betting platform called 1xBet. According to the agency, 1xBet and its surrogate brands 1xBat and 1xBat Sporting Lines were running online betting and gambling business in India without permission.
5 big revelations of ED in Raina-Dhawan case
The ED investigation has revealed that Raina and Dhawan had struck deals with foreign companies to promote 1xBet. Payment for these deals was made through foreign channels so that the real source of funds could be concealed.
2. Trap of false branding
Despite being banned in India, 1xBet continued to promote its brand names such as 1xBat and Sporting Lines. Indian users were targeted through social media, YouTube and print advertisements.
3. ‘Deliberate’ promotion of players
ED claims that both the cricketers knew that they were promoting illegal foreign betting brands. Despite this, he signed endorsement contracts worth huge sums of money.
4. Transferring funds through multi-level transactions
The investigation revealed that payments for these deals were made through several foreign shell companies and broker agents. These multi-level transactions were designed in such a way that it was difficult to trace the source of the funds.
5. Linked to illegal income proven
According to the ED, the money associated with these promotions is directly linked to the ‘proceeds of crime’ earned by 1xBet through illegal betting in India. The agency said this is just the beginning. In the coming days, crackdown may also be imposed on other brand ambassadors and influential people. There has been no official response from Raina and Dhawan yet. However, ED sources say that the players will soon be summoned and interrogated.