ED to probe T20 spot-fixing for money laundering and hawala
The Enforcement Directorate (ED) is likely to initiate a money laundering and hawala probes in T20 betting and match fixing scandal.india Updated: May 18, 2013 01:46 IST
The Enforcement Directorate (ED) is likely to initiate a money laundering and hawala probes in T20 betting and match fixing scandal.
The Delhi police has already registered an FIR against three Rajasthan Royals players – S Sreesanth, Ajit Chandila and Ankeet Chavan and 11 bookies on the charges of spot fixing. The ED may now step in to probe money laundering in the case.
According to sources, Hawala, a money transaction from or to abroad without the permission of Reserve Bank of India – and angaria – a money transaction within the country without using normal banking channel – are preferred modes of bookies for making or receiving payments.
Besides, bookies invest their ill-gotten money into property or other businesses to make it legitimate. That’s why most of bookies in the country deal in properties because of its huge scope for money laundering.
The ED sleuths are planning to approach the Delhi police for seeking details of the case to launch separate probes under the Foreign Exchange Management Act and the Prevention of Money Laundering Act to check Hawala dealings and money laundering.