Two prominent cricketers have suffered a major setback today. The Enforcement Directorate (ED) has seized properties worth ₹11.14 crore belonging to Suresh Raina and Shikhar Dhawan.
This has been done in connection with a money laundering case related to an illegal online betting app called 1xBet.
ED sources stated that this action has been taken under the Prevention of Money Laundering Act (PMLA).
Both cricketers had struck deals with foreign companies to promote this app, which is illegal in India.
Connections of Cricketers Caught in Investigation
The ED investigation revealed that Raina and Dhawan “knowingly” entered into endorsement agreements with foreign entities for the promotion of 1xBet and its surrogates.
This means that both knew that this app was banned in India, yet they still advertised for it. A property worth ₹4.5 crore belonging to Shikhar Dhawan and a mutual fund of ₹6.64 crore belonging to Raina have been attached.
The ED has already questioned both. This case concerns 1xBet, which is registered in Curacao and has been operating betting for 18 years. This app offers sports bookings worldwide, but is banned in many countries, including India.
The ED has also questioned other cricketers, such as Yuvraj Singh and Robin Uthappa. Actors Sonu Sood, Urvashi Rautela, Mimi Chakraborty (formerly a TMC MP), and Bengali actor Ankush Hazra were also summoned.
All were questioned about 1xBet’s promotion and money flow. The ED is now tracking money coming into India from foreign accounts. This app has also sponsored leagues like the IPL, but is now on the ED’s radar.
What is 1xBet? Know the details
1xBet is a company founded in 2007 and headquartered in Cyprus. It holds a Curacao e-gaming license and claims to be a global bookmaker. However, it has been banned by several countries, including the UK, the US, France, Russia, and Spain.
Three of its founders even have international warrants against them, and one is deceased. Even before the ED investigation, other countries had cracked down on its financial fraud. It was promoting illegal betting in India, resulting in the influx of millions of rupees of black money.
This ED action is likely to put a stop to the irregularities being perpetrated in the name of IPL and cricket promotion. The investigation is ongoing, and more details are expected to emerge. This is casting doubt on the image of stars like Raina and Dhawan.
The ED has so far frozen the accounts of several individuals associated with 1xBet. This case is part of dismantling a larger money laundering network. A final charge sheet is expected to be filed soon.
