ED Freezes INR 25 Cr Assets in Online Gaming Fraud Probe

The Enforcement Directorate (ED) has frozen bank accounts, investments, and other assets worth around INR 25 cr following searches at 12 premises across Gondia, Nagpur, and Ahmedabad. The searches were conducted in connection with an alleged online gaming and betting fraud case.

The searches were carried out on Aug 18, 2026, by the agency’s Nagpur Sub-Zonal Office against Anant Navratran Jain, alias Sontu Jain, and his associates under the Prevention of Money Laundering Act, 2002.

The ED also seized INR 30.30L in cash, along with 11 mobile phones and a laptop that could contain evidence related to the alleged gaming operation and financial transactions. Two bank lockers and three luxury vehicles valued at approximately INR 21.70 Cr were frozen, while documents linked to immovable properties worth around INR 16.50 Cr were seized.

ED Probes Allege INR 58.42 Cr Gaming Loss

The investigation originated from an FIR registered by Nagpur City Cyber Crime Police under the Indian Penal Code and the Information Technology Act. According to the ED, Jain allegedly attracted a complainant to online gaming by promising quick returns and directed him toward Diamondexch, Lotusbook, Indianexch, and World777.

The ED claims the gaming platforms were manipulated, with technical errors or glitches allegedly occurring when the complainant was close to winning.

The reported losses reached INR 58.42 Cr.

Investigation Tracks Mule Accounts and Overseas Transactions

The money trail extends across platforms, including wolf777.com, Diamondexchange.com, and world777.com. The ED alleges that suspected proceeds were collected through cash couriers, hawala-style token currency notes, and bank transfers involving agents the ED allegedly linked to Jain.

Several mule accounts belonging to individuals and entities were reportedly used to receive and layer the money. The agency stated that some funds were withdrawn in cash, while other amounts were transferred abroad as purported payments for bogus imports.

More than 100 bank accounts, mutual funds, and shares were frozen during the searches. The ED reported the operation secured financial and digital evidence linked to the proceeds of crime.

Further investigation is underway.