ED attaches Dubai assets, bank deposits worth Rs 307 crore
Land, villas and flats in Dubai and bank deposits in India worth Rs 307 crore have been attached under the anti-money laundering law in an online betting and broadcasting case linked to a platform named Fairplay, the ED said on Monday.
The money laundering case stems from an FIR filed by the Cyber wing of the Mumbai Police. The complaint was registered on the basis of a communication sent by Viacom18 Media against Fairplay and others, alleging revenue loss of more than Rs 100 crore to the former company due to violation of the Information Technology (IT) and Copyright Act.
Subsequently, many other FIRs against various entities, including Fairplay and its associates, for “illegal” online betting were tagged together for investigation, the Enforcement Directorate (ED) said in a statement. A provisional order was issued under the Prevention of Money Laundering Act (PMLA) on September 19 to attach land, villas and flats located in Dubai and bank deposits kept in India. These properties are worth Rs 307.16 crore, it said.
The ED said “proceeds of crime” (POC) in this case are estimated to be worth several hundred crores of rupees. Probe found, it said, that a man named Krish Shah was the “key” person behind Fairplay, and he had registered various companies, such as Play Ventures N V and Dutch Antilles Management N V at Curacao, Fair Play Sport LLC, Fairplay Management DMCC at Dubai and Play Ventures Holding Limited at Malta for operating the said online platform. Fairplay is primarily being operated by Shah from Dubai with the help of his associates, such as Anil Kumar Dadlani and others. Shah, his family members and his associates have “acquired” various movable and immovable assets either in their names or in the name of their relatives/ related entities in the UAE, as per the ED.
The agency has conducted four rounds of raids in this case last year, arrested two persons named Chintan Shah and Chirag Shah in February.
It also filed a chargesheet in the case before a special PMLA court in Mumbai on April 1. With the latest order, the total attachment of assets in this case stands at Rs 651.31 crore.
