Bank Accounts Frozen After Firms Found Running Chinese Betting Apps

The Enforcement Directorate (ED) said on Saturday that it has frozen four bank accounts containing Rs 46.96 crore in a probe related to Chinese apps allegedly running online betting operations in India in a racket possibly worth over Rs 1000 crore.

Raids were conducted on Friday at 15 locations spread across Delhi, Gurugram, Mumbai and Pune over suspected money-laundering. The ED launched a probe under the Prevention of Money Laundering Act (PMLA) on the basis of a Hyderabad police FIR against two companies Dokypay Technology Pvt Ltd and Linkyun Technology Pvt Ltd among others in which the state police arrested a Chinese national, Yan Hao, and two Indians, Dhiraj Sarkar and Ankit Kapoor, earlier this month.

Yan Hao, manager of a company named Beijing Tomorrow Power Company, was allegedly organising an online betting scam. ED said on Saturday that Chinese nationals, with the help of some Indian chartered accountants, floated multiple Indian companies.