India: ED seizes Rs 2.25 crore in Goa casino raids
Investigators uncover foreign currency, cryptocurrency wallets and suspected cross-border transfers.
Key points:
– RS 2.25 crore (US$253,454) in Indian cash seized, plus $14,000 and other foreign currency
– Raids conducted at 15 premises in Goa, Mumbai, Rajkot and Delhi NCR
– ED alleges poker chips exchanged for foreign currency, winnings paid abroad
The Enforcement Directorate (ED) has seized large sums of cash and foreign currency following a series of raids linked to Goa’s casino industry, as reported by the Hindustan Times.
Searches took place across 15 sites associated with Big Daddy Casino, Casino Strike and related companies under Golden Globe Hotels Pvt. Ltd. and Worldwide Resorts and Entertainment Pvt. Ltd.
The ED said that the operation uncovered a system in which poker chips were issued to customers in return for foreign currency, with winnings later settled in overseas cash. Investigators also identified cryptocurrency wallets allegedly being used for transactions among players.
Staff linked to the casinos were found to be actively promoting several unlicensed online gambling platforms, including rolex777.co, iCasino247.com, Poker Daddy and Win Daddy. According to the agency, angadia networks and crypto-based USDT transfers were used to send funds to Dubai and other international locations.
Good to know: More than Rs 90 lakh worth of cryptocurrency, primarily USDT, was traced and frozen during the searches
Officials also seized digital evidence and documents which they say show violations of the Foreign Exchange Management Act (FEMA) and clear links to hawala-style cross-border remittances.
The ED confirmed that several mule accounts had been identified as channels for depositing and withdrawing gambling proceeds before these funds were funnelled abroad. Court proceedings are expected to follow as the investigation develops.
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