Income tax department busts cricket betting racket in Delhi

The State Excise Department and police have been informed by the I-T Department. Police have registered a case in this regard. Look out circular (LOC) has been issued against the accused, sources said.

The Income Tax (I-T) Department on Wednesday conducted searches in Punjabi Bagh area here and busted a racket of cricket betting and hawala operations and seized jewellery worth ₹1.8 crore, undisclosed cash ₹95 lakh and foreign currencies worth ₹14 lakh.

Income tax department busts cricket betting racket in Delhi (HT File)

The accused has been identified as Sanjay Jain, resident from Punjabi Bagh. The State Excise Department and police have been informed by the I-T Department. Police have registered a case in this regard. Look out circular (LOC) has been issued against the accused, sources said.

“We had conducted raids on a group involved in cricket betting and hawala dealings in Punjabi Bagh area. The searches led to the seizure of unaccounted cash of ₹95 lakh, jewellery worth ₹1.8 crore and foreign currency of ₹14 lakh,” said the I-T Department.

“Expensive wrist watches amounting to ₹50 lakh were also seized. The documents found during the raids also revealed that the accused have several undisclosed foreign bank accounts in the British Virgin Islands (BVI) and Dubai,” an official statement reads.

Around 180 bottles of foreign brands and Indian Made Foreign Liquor (IMFL) were recovered from the possession of the accused. His four cars, two houses in Punjabi Bagh area and one farmhouse in Bijwasan have been attached under Section 132 (9B) (power to attach) of the I-T Act.