ED raids 8 locations over illegal IPL betting, seizes assets worth Rs 4 crore

In a major crackdown on illegal cricket betting and broadcasting, the Enforcement Directorate (ED) conducted search operations at eight locations in Mumbai and Gujarat’s Kutch. The raids were part of an ongoing probe into online betting platform Fairplay accused of illegal broadcasting of cricket/IPL matches and online betting.
According to ED officials, the search operations were carried out under the Prevention of Money Laundering Act (PMLA), 2002. The agency seized movable assets, including cash, bank funds, and silver bars, worth approximately Rs 4 crore. Additionally, various incriminating documents, digital devices, and immovable property-related documents were also confiscated.
The probe agency initiated the investigation based on a First Information Report (FIR) registered by Viacom18 Media Pvt Limited with the Nodal Cyber Police, Mumbai. The FIR alleged that Fairplay Sport LLC and others had caused revenue loss of over Rs 100 crore, violating various sections of the Indian Penal Code (IPC), 1860, Information Technology Act, 2000, and Copyright Act, 1957.
ED investigations revealed that Krish Laxmichand Shah, the key person behind Fairplay, had registered multiple companies abroad, including Play Ventures NV and Dutch Antilles Management NV in Curacao, Fair Play Sport LLC and Fairplay Management DMCC in Dubai, and Play Ventures Holding Limited in Malta.
The search operations targeted individuals providing technical and financial management support services to Fairplay. Seized documents revealed the purchase of high-value immovable and movable assets in India by those involved, totalling over Rs 100 crore.
This is the fourth round of searches in the case. Earlier, the ED conducted raids on June 12, August 27, and September 27, seizing or freezing movable assets worth approximately Rs 113 crore. The total seizure in this case now stands at Rs 117 crore.
The ED’s ongoing investigation aims to unravel the complex web of financial transactions and identify the beneficiaries of the illegal betting and broadcasting activities. With the cricket season in full swing, the ED’s crackdown serves as a warning to those involved in illegal activities.
The agency’s efforts to curb money laundering and protect intellectual property rights are expected to continue.
Further investigation into the case is underway.