ED Raids 15 locations in Telangana, Andhra over betting app scam

The searches in the two Telugu States followed searches conducted by the ED last week in Delhi, Mumbai and Gurugram.

Hyderabad: The Enforcement Directorate (ED) on Friday, October 23, conducted simultaneous searches at 15 locations in Telangana and Andhra Pradesh, including Hyderabad and Vijayawada, as part of an investigation into alleged online betting and fraudulent investment app networks.

The searches were carried out under the Prevention of Money Laundering Act (PMLA) following an FIR registered by the Pune Cyber Crime police in Maharashtra. The agency is examining the alleged role of inter-state networks accused of luring people with promises of high returns and collecting hundreds of crores of rupees.

The searches in the two Telugu States followed searches conducted by the ED last week in Delhi, Mumbai and Gurugram, during which investigators reportedly seized documents that pointed to links with agents and hawala operators in Telangana and Andhra Pradesh.

The agency is probing allegations that proceeds generated through online betting and fraudulent investment platforms were routed through shell companies and cryptocurrency transactions before being transferred overseas.

ED officials examined records, financial transaction documents and digital devices at the residences and offices of suspected key operatives. The searches were aimed at tracing the money trail, identifying the beneficiaries and establishing the alleged links between the app operators, local agents and hawala networks.

There were also reports of the recovery of cash and evidence relating to bank accounts and suspected hawala transactions during the searches. The details of the alleged seizures and the identities of those under investigation were not immediately available.

Further investigation is under way.