ED Arrests Armstrong Exchange Founder Over Alleged Online Betting Scam

by · Inc42

SUMMARY

  • Armstrong Exchange founder Sagar Dash has been arrested and remanded to ED custody for three days in connection with an alleged online gaming and betting scam
  • The investigation uncovered an alleged network of mule accounts and shell entities used to route proceeds of crime worth hundreds of crores
  • Following searches in six locations, the ED froze approximately ₹9 Cr across multiple bank accounts and also arrested Edsom Fintech CEO Ram Ramdhani