ED attaches assets worth over Rs 307 Cr in Fairplay betting case

The assets that have been attached provisionally are in the form of bank balances and immovable assets like lands, villas and flats located at Dubai (UAE).

New Delhi: The Mumbai Zonal Office of Enforcement Directorate (ED) has attached assets worth Rs 307.16 crore in Fairplay case, said Probe Agency official. The Fairplay is involved in alleged illegal broadcasting and online betting activities, reports Dynamite News correspondent.

The assets that have been attached provisionally are in the form of bank balances and immovable assets like lands, villas and flats located at Dubai (UAE).

The FIR (first information report) aginst Fairplay and others was registered by Viacom18 Media Pvt Limited with Nodal Cyber Police, Mumbai for allegedly causing loss of more than Rs 100 crore. The ED initiated PMLA investigation based on this FIR.

After that a number of other FIRs against various associates of Fairplay for illegal online betting were also taken. After the process of investigation it was found that several hundred crores were involved in the case including the movement of funds abroad through Trade based money laundering.

The investigation by the probe agency revealed that the main person behind Fairplay was Krish Laxmichand Shah. Therefore the Agency has has found that various companies such as M/s Play Ventures N.V & Dutch Antilles Management N.V at Curacao, Fair Play Sport LLC & Fairplay Management DMCC at Dubai and Play Ventures Holding Limited at Malta were involved in the operations of Fairplay.

(...being updated)