SPORTS DESK: ED Seizes ₹11 Crore Assets from Raina and Dhawan
In a stunning development that has rocked the Indian cricket fraternity, the Enforcement Directorate has provisionally attached assets totaling Rs.11.14 crore linked to former players Suresh Raina and Shikhar Dhawan.
This action stems from an ongoing probe into money laundering tied to the offshore betting platform 1xBet.
The move underscores the agency’s crackdown on illicit financial flows in the digital gambling space.
Assets Under the Scanner
The attachments include Rs.6.64 crore in mutual fund holdings registered under Raina’s name.
For Dhawan, a property valued at Rs 4.5 crore has been frozen. These steps were formalized through a public notice issued by ED on Thursday, signaling a deeper scrutiny into the players’ financial dealings.
Roots in Offshore Betting Ties
Investigators uncovered that both cricketers had inked promotional deals with 1xBet and its affiliates, foreign entities operating beyond Indian jurisdiction.
Payments from these arrangements were routed via layered international transfers, officials noted, masking their origins as proceeds from unauthorized betting endorsements.
Such income falls under the purview of illegal gains, per the probe’s findings.
Unraveling the 1xBet Network
The inquiry, triggered by FIRs from police in multiple states, exposed a sprawling operation with over 6,000 domestic accounts feeding into 1xBet’s ecosystem.
Customer funds were funneled through unregulated payment gateways, bypassing essential Know Your Customer protocols and obscuring fund trails.
Cautionary Note to the Public
Amid the revelations, ED has urged citizens to steer clear of online betting traps and safeguard personal banking information from unverified sources.
Violators risk severe penalties, including up to seven years imprisonment under the Prevention of Money Laundering Act.
The investigation presses forward, with ED vowing to dismantle similar networks and hold all involved parties accountable.
This case highlights the blurred lines between celebrity endorsements and regulatory red flags in India’s evolving digital economy.