ED attaches Rs 23.35 crore more assets in online betting case, alleges Rs 2,300 crore
The ED's Bengaluru office has provisionally attached properties worth Rs 23.35 crore in an online betting case where, it alleges, proceeds of crime exceeded Rs 2,300 crore.
Key points
- The ED's Bengaluru zonal office provisionally attached movable and immovable properties worth Rs 23.35 crore under the PMLA.
- The ED alleges that players on betting platforms including King567 were cheated, and says it traced proceeds of crime above Rs 2,300 crore.
- The attachment must be confirmed by the Adjudicating Authority; the ED says properties worth over Rs 343 crore have been attached, seized or frozen so far.
The Enforcement Directorate's (ED) Bengaluru zonal office has provisionally attached movable properties worth Rs 13.77 crore and immovable properties worth Rs 9.59 crore, a total of Rs 23.35 crore, under the Prevention of Money Laundering Act (PMLA). The ED said on 27 October 2026 that the order, dated 23 October 2026, concerns an online betting and gambling network that, it alleges, generated proceeds of crime of more than Rs 2,300 crore.
What Happened
According to the ED, its investigation began from several police FIRs alleging cheating, cheating by personation, criminal conspiracy and extortion through online betting and gambling platforms. The ED alleges that the main accused and associates ran illegal betting platforms, including King567, through payment gateways, shell companies and mule accounts, and that players were induced to deposit money and then cheated through manipulated betting and blocked withdrawals.
The ED alleges that the money was moved through multiple accounts, hawala channels and offshore entities and used for luxury assets, business investments, foreign remittances and personal expenses. It says a payment gateway, Fonepaisa Payment Solutions Private Limited, received large commissions as a key payment intermediary, and that SimTech IT Solutions Private Limited received credits from mule accounts linked to King567, according to the agency.
The ED said it had earlier searched more than 60 premises in several states, arrested the main accused, and attached Rs 177.30 crore of property, an attachment later confirmed by the Adjudicating Authority. A prosecution complaint and a supplementary complaint have been filed, and a Special PMLA Court took cognizance on 4 May 2026, the ED said. It puts the total attached, seized or frozen so far at over Rs 343 crore.
What It Means
A provisional attachment stops the owners from selling or transferring the property while the case goes on. It must be confirmed by the Adjudicating Authority under the PMLA. The ED says further investigation is under way.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
The case shows how betting apps can block withdrawals once money is deposited, according to the ED's account. Anyone who has lost money to an online platform can report it at https://cybercrime.gov.in or call the helpline 1930.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
Named in this report, or spotted an error? Corrections and responses: editor@oquilia.com. We correct errors promptly and record responses from named parties.
Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate