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ED attaches ₹11.14 crore assets of Suresh Raina and Shikhar Dhawan in 1xBet money laundering case.
The assets include Raina’s mutual funds and Dhawan’s immovable property.
ED warns the public against involvement in illegal betting activities under PMLA.
As per the Prevention of Money Laundering Act (PMLA), 2002, the Enforcement Directorate (ED) has provisionally attached assets valued at ₹11.14 crore belonging to Indian cricketers Suresh Raina and Shikhar Dhawan. The investigation, related to a transaction linked to the alleged promotion of the illegal betting platform 1xBet, led to such an action. It includes mutual fund investments in the name of Suresh Raina valued at ₹6.64 crore and immovable property worth ₹4.45 crore held in the name of Shikhar Dhawan.
The investigation began when central agencies received inputs about the involvement of celebrities in endorsements of betting companies of foreign origin. The ED has also claimed that the illegal betting network across India was boosted by the promotional activities for 1xBet. It is to be noted that online betting platforms are banned in India. The funds generated from these illegal platforms are reportedly converted into legitimate assets through various channels and investments.
There have been no official statements issued in response to the provisional attachments by Suresh Raina and Shikhar Dhawan. The two cricketers may also be called in for questioning about their connection with the platform and the financial benefits associated with it.
The assets will remain under the ED’s custody for now as the investigation proceeds under the PMLA provisions. The course of action related to the confiscation of the assets will be decided after confirming the case. There have been multiple investigations into violations of foreign exchange and money laundering laws by online betting and gaming companies. This is part of exposing the broader network of unregulated betting operations and their financial links to India.
The ED has also issued an advisory urging the public to be cautious and refrain from being involved in such betting and gambling activities. One could face legal action under PMLA provisions, which could lead to seven years of imprisonment and the seizure of assets derived from such dealings. The ED has also advised reporting any suspicious transactions to law enforcement agencies or the Directorate itself. [Rh]
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