The Enforcement Directorate (ED) on Tuesday said it has undertaken fresh investigations in a money laundering case against a website that had allegedly indulged in online betting on the 2024 Lok Sabha election results, apart from illegal telecast of IPL cricket matches. The action was taken against people who provided technical and financial management support to the website called “Fairplay”, which was allegedly involved in illegal activities.
Cash, bank deposits and silver bars worth around Rs 4 crore were seized along with several other “incriminating” documents, digital devices and real estate-related documents in the raids conducted on October 25 in Mumbai and Kutch in Gujarat , the ED said in a statement. The money laundering case stems from an FIR by the Cyber Cell of Mumbai Police filed following Viacom18 Media Pvt Limited’s complaint against Fairplay Sport LLC and others for causing a revenue loss of over Rs 100 crore.
The money laundering investigation said the investigation shows that Krish Laxmichand Shah is the “key person” behind Fairplay and that he has registered several companies such as Play Ventures NV and Dutch Antilles Management NV in Curacao (an island nation in the southern Caribbean Zee), Fair Play Sport LLC, Fairplay Management DMCC in Dubai and Play Ventures Holding Limited in Malta for operating the website. Fairplay is “operated” from Dubai, the ED found.
“Incriminating documents seized during the search reveal that the persons involved have purchased valuable immovable and movable properties in India amounting to over Rs 100 crore,” the agency said.
The ED has previously conducted raids in this case three times from June and has seized or frozen assets worth Rs 117 crore so far, including the latest action. Earlier, Fairplay was said to be involved in “illegal telecast of cricket/IPL matches and various online gambling activities, including the results of the 2024 Lok Sabha elections”.