New Delhi, Nov 6 (NationPress) The Enforcement Directorate (ED) has temporarily seized movable and immovable assets totaling Rs 11.14 crore owned by former Indian cricketers Suresh Raina and Shikhar Dhawan under the Prevention of Money Laundering Act (PMLA), 2002, as part of its ongoing investigation into the illegal offshore betting platform 1xBet, the agency announced on Thursday.

The ED revealed that the seized assets include mutual fund investments valued at Rs 6.64 crore in Raina’s name and a property worth Rs 4.5 crore owned by Dhawan.

This action arises from several FIRs filed by various state police departments against the operators of 1xBet and its associated brands - 1xBat and 1xBat Sporting Lines - which are accused of promoting and facilitating illegal online betting and gambling activities across India.

“The investigation disclosed that both Suresh Raina and Shikhar Dhawan willingly entered into endorsement agreements with foreign entities to promote 1xBet through its surrogate brands,” the ED stated in its press release.

“These endorsements were made for payments channeled through foreign entities, aiming to obscure the illegal origins of the funds, which are connected to proceeds of crime generated from unlawful betting activities,” it further noted.

Officials from the ED also discovered that 1xBet operated without authorization in India, targeting users via social media, online videos, and print ads. Payments were obscured through multiple entities and foreign accounts to conceal their source.

During the investigation, a money laundering trail exceeding Rs 1,000 crore was identified. Over 6,000 “mule” bank accounts were utilized to gather funds from Indian bettors, routed through various payment gateways.

Numerous merchants on these platforms were onboarded without adequate KYC verification, and their reported business activities did not align with transaction patterns.

Search operations were conducted at four payment gateways, resulting in the seizure of incriminating evidence. More than 60 bank accounts linked to the operation have been frozen, with over Rs 4 crore in funds blocked so far.

Through a public advisory, the ED urged citizens to avoid engaging in or endorsing online betting and gambling platforms, cautioning that involvement in such activities could lead to prosecution under PMLA, which carries a potential sentence of up to seven years and confiscation of assets derived from illicit proceeds.

The investigation is ongoing.