ED attaches Dubai properties, other assets worth ₹307 Cr in case against Fairplay

The ED attached assets worth ₹307.16 crore in a money laundering probe against Fairplay, an illegal online betting platform, totaling ₹651.31 crore seized.

MUMBAI: The Enforcement Directorate (ED) on Friday provisionally attached assets worth ₹307.16 crore as part of its money laundering probe against Fairplay, an allegedly illegal online betting platform. The assets are bank deposits and properties including plots of land, villas and flats in Dubai. These bring up the total of the attachments and seizures in this online betting case to around ₹651.31 crore.

ED attaches Dubai properties, other assets worth ₹307 Cr in case against Fairplay

The money laundering case had begun after a case registered by Viacom18 Media against Fairplay and others for allegedly causing them a loss of revenue worth over ₹100 crore by illegally broadcasting cricket (Indian Premier League) matches in 2023. The ED later began investigating Fairplay and other entities for allegedly illegal online betting activities. “As per the investigation, the proceeds of crime in this case exceeds several hundred crores,” said an ED official.

According to ED officials, Fairplay allegedly collected its funds through a complex web of over 400 bank accounts belonging to shell companies and pharmaceutical firms involved in bogus billing. The funds from such firms were allegedly siphoned off to overseas shell entities operating from Hong Kong and Dubai, the ED officials said.

As per the ED, Fairplay had also allegedly made agreements through foreign entities based in Dubai and Curacao. These agencies allegedly signed agreements to promote the platform without doing the due diligence to verify the platform’s activities.

The ED’s investigation revealed that a certain Krish L Shah, the alleged mastermind behind Fairplay, registered various companies, such as Play Ventures NV and Dutch Antilles Management NV in Curacao, Fair Play Sport LLC and Fairplay Management DMCC in Dubai, and Play Ventures Holding Limited in Malta for running the operations of Fairplay.

“Investigation revealed that Fairplay is primarily being operated by Shah from Dubai with the help of his associates, such as Anil Kumar Dadlani and others,” said the ED officer. “Shah, his family members and his associates have acquired various movable and immovable assets either in their names or in the name of their relatives in UAE,” the official added.

Earlier in the case, ED had conducted search operations in June, August, September and October 2024, which resulted in seizures of various movable assets and recovery of various documents, digital devices. The ED had also arrested two allegedly key persons in the case, Chintan Shah and Chirag Shah, on February 12 this year.