: Tuesday, 15 July 2025 7:13 pm
Mumbai,The Enforcement Directorate (ED) has raided four locations in Mumbai in a large case of money laundering. This action was taken against illegal box trading and online betting networks, in which ED recovered cash worth Rs 3.3 crore. Apart from this, luxury watches, precious jewelery, foreign currency, luxury vehicle and cash counting machines have also been seized during the raids.
The ED had taken action on 9 January 2025 on the basis of an FIR lodged at Lasudia police station in Indore and registered a case under the Money Laundering Prevention Act (PMLA) -2002. In this, crimes were registered under Section 319 (2) and 318 (4) (East of Section 419 and 420) of the Code of India.
There are many illegal box trading and online speculative platforms under the scope of investigation. These platforms were operated through white label apps, whose admin rights were handed over from one person to another on the basis of part of the profit.
Investigation has revealed that Vishal Agnihotri, who is the beneficiary owner of V. Money and 11 stars, had acquired the admin rights of the Lotus Book speculative platform on the basis of 5 percent profit. Later he transferred these rights to Dhawal Devraj Jain, in which he himself held 0.125 percent and the remaining 4.875 percent was given to Jain. Dhawal Jain then along with his colleague John States alias Pandey prepared a white-labeled platform and provided it to Agnihotri to run 11 stars.
In this entire network, cash was being conducted through hawala, which was handling the responsibility of Hawala operator named Mayur Pandya alias Pandya. He arranged for cash transactions and payment related to betting. The ED is currently investigating the digital evidence, financial records and the role of individuals associated with the network related to the case.
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Web Title-Ed Big Action: Raids Against Dabba Trading and Online Betting Racket in Mumbai,
