New Delhi, August 29
The Enforcement Directorate has frozen 4 HSBC financial institution accounts containing Rs 46.96 crore after it raided a number of premises of corporations concerned in working on-line Chinese betting apps, in line with an official assertion.
It mentioned the searches had been carried out at 15 places in Delhi, Gurugram, Mumbai and Pune on Friday beneath varied sections of the Prevention of Money Laundering Act (PMLA).
“Searches were conducted on the registered offices of the companies, their directors and chartered accountants involved in illegally running online betting apps from websites which are hosted from outside India,” the federal probe company mentioned within the assertion on Saturday.
“During the course of search, ED has seized 17 hard disks, five laptops, phones, crucial incriminating documents and has also frozen Rs 46.96 crore held in 4 HSBC Bank accounts,” it mentioned.
The cash laundering case is predicated on an FIR filed by the Telangana Police towards the accused early this yr, it added.
According to the assertion, the probe came upon that “with the help of some Indian chartered accountants, some Chinese nationals floated multiple Indian companies.”
“Initially dummy Indian directors were used to incorporate the companies and after some time Chinese nationals travelled to India and took directorship in these companies,” it mentioned.
“Some locals were hired and used to open bank accounts with HSBC Bank and open trade accounts with online wallets namely Paytm, Cashfree, Razorpay, etc.” the ED mentioned. — PTI