look news india
Mumbai: The Enforcement Directorate (EDA) has raided 21 locations in Mumbai, Pune and Delhi in connection with the illegal telecast of T20 World Cup matches and online betting on an app allegedly run by Pakistani nationals.
ED has taken this action as part of the ongoing investigation in the Magicquin case. An investigation was conducted by the investigating agency under the provisions of the Prevention of Money Laundering Act (PMLA) 2002 between December 10 and 12 in the case against MagicQuinn, a portal owned by a Pakistani national.
During this process, Rs 30 lakh in the bank account has also been frozen and many other criminal documents and digital devices have been seized. ED is investigating the case based on the case registered against MagicWin and others at the Cyber Police Station in Ahmedabad, Gujarat.
According to the information given by ED, MagicQuinn is a betting website. Whose owner is actually a Pakistani citizen. This website is mostly managed by Indian citizens working or settled in Dubai.
It was also revealed that the betting games featured on the website are originally played in the Philippines and other countries. Due to which betting activities have been allowed. However, these games were replayed on the MagicQuinn website by copying the API of the same original games. Betting on the website, depositing money, withdrawing money and operating the betting were all done by the owners of this app sitting in Pakistan.
Furthermore, the money deposited on the website by players and bettors was routed through various fake companies and fake bank accounts. The app owners first invested the money in cryptocurrencies, then transferred the money to Dubai using encashment and hawala channels.
Also, the money of the betting winners is transferred to their bank accounts through the accounts of shell companies and with the help of payment gateways. Some amount has also been sent to the winners’ accounts through Domestic Money Transfer (DMT).
During investigation it was also revealed that MagicQuinn had organized a grand launch party in India. In which many celebrities of B Town participated. These celebrities also did video and photo shoots to advertise MagicQueen and posted them on their social media accounts to promote it. Apart from this, notice boards were also installed in various areas. Investigation has revealed that such boards have been installed especially in Gujarat and Maharashtra. The profit generated by the betting website is more than 50 percent of the total deposits made by players.
In this case, ED has so far raided 68 places and seized important documents and digital devices. A total of property worth Rs 3.55 crore has been seized in this case so far. ED further said that further investigation is going on in this matter. ED took this action from 10 to 12 December.