Surat (Gujarat) [India], April 28 : Enforcement Directorate (ED) carried out a search of five bank accounts held at IDFC First Bank, Surat under the Prevention of Money Laundering Act (PMLA), 2002 on Thursday related to the illegal betting activities carried out through fake dummy bank accounts, by Harish alias Kamlesh Jariwala and others.
According to ED statement, these accounts were involved in the layering of funds received from individuals and entities who were placing bets on illegal online betting apps.
Subsequent to the search proceedings, a total of Rs 3.44 crore lying in five bank accounts held by Mitalia Enterprise, RM Enterprise, DM Enterprises, Vishwakarma Traders and XBT Labs Pvt Ltd, with IDFC First Bank, has been frozen under the provisions of the PMLA.
Furthermore, a total of 93 bank accounts (including the aforesaid five bank accounts), related and involved in the layering/transfer of proceeds of crime have been ordered to be debit freezed.
ED had initiated investigations based on an FIR registered by DCB, Surat, wherein it was alleged that the accused Harish alias Kamlesh Jariwala had entered into a criminal conspiracy with Rushikesh Adhikar Shinde and Huzefa Kausar Masakarwala and had obtained identity documents of various persons, prepared fake rent agreements in their names, obtained mobile phone SIM cards, license for dummy firms and sold the login ID's and passwords and SIM card to a person named Huzefa Kausar Masakarwala for the purpose of transferring the funds obtained from illegal betting apps.
During PMLA investigations, proceeds of crime ie the money generated through these betting apps are being traced and it has been found that bank accounts in the names of various fictitious entities have been opened for routing and layering of money.
Further investigation is under progress.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor