NEW DELHI: The Enforcement Directorate has provisionally attached assets in the form of demat account holdings, mutual fund investments and a luxury vehicle (Audi Q8) worth Rs. 4.62 crore approximately under provisions of the Prevention of Money Laundering Act (PMLA).
This was done as part of the agency’s ongoing probe in the case linked to “Fairplay”, which was involved in illegal broadcasting of cricket/IPL matches and various online betting activities, officials said on Friday.
Noting that the attachment orders were issued on November 22, the officials said that assets worth Rs 335.78 crore have been attached and seized in this case up till now.
The ED’s investigation in the case is based on an FIR filed by the Nodal Cyber Police in Mumbai on the complaint by Viacom18 Media Pvt. Ltd. The complaint accused ‘Fairplay Sports LLC’ and others of illegal activities that caused revenue losses exceeding Rs 100 crore, which constituted the proceeds of crime.
The officials said that the ED’s investigation identified Krish Laxmichand Shah as the mastermind behind Fairplay, as he is allegedly said to have operated the betting app primarily from Dubai, with support from associates Chirag Shah and Chintan Shah, who handle technological and software aspects.
“Shah has reportedly registered multiple companies, including Play Ventures NV and Dutch Antilles Management NV in Curacao, Fairplay Sport LLC and Fairplay Management DMCC in Dubai, and Play Ventures Holding Limited in Malta, to facilitate Fairplay’s operations. Investigators found that Shah and his associates used proceeds from illegal activities to acquire various assets, often registered under their names or those of relatives,” a senior ED official said.
The ED had previously conducted several rounds of searches at multiple locations in the case on June 12, August 27, September 27, and October 25, 2024.
“These searches led to the seizure and freezing of various movable assets and digital evidence. With the latest provisional attachment order, the total assets attached and seized in the case amount to Rs 335.78 crore,” the official said.