ED Searches Multi-City Premises in Online Betting Probe

The Enforcement Directorate (ED) conducted searches at 12 premises in Nagpur, Gondia, and Ahmedabad, investigating an alleged online betting and money laundering case. The operation, linked to Sontu Jain and associates, resulted in the seizure of ₹30.30 lakh in cash and the freezing of assets valued at approximately ₹5 crore, according to the Free Press Journal.

What Happened

On August 21, 2026, the Enforcement Directorate (ED) carried out coordinated searches across 12 locations in Nagpur, Gondia, and Ahmedabad. These operations were part of a money-laundering investigation concerning an alleged online gaming and betting fraud, as reported by the Free Press Journal. The probe specifically targets platforms including Diamondexchange.com, Wolf777.com, World777.com, Diamondexch, Indianexch, and Lotusbook.

The searches were executed by the ED’s Nagpur Sub-Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA). The primary targets of these actions were Anant Navratran Jain, also known as Sontu Jain, and his associates, according to the Free Press Journal. Law enforcement findings, as stated by the Free Press Journal, indicate that Jain and Rajesh Rajdev are partners in the “Diamond Exchange” betting app, which reportedly integrates several betting applications.

Jain reportedly managed the application’s operations and was connected to a hawala channel used for the transfer of betting proceeds, according to the Free Press Journal. Officials cited by the Free Press Journal claimed that both Jain and Rajdev are linked to a significant cross-border online betting and money-laundering syndicate. The Free Press Journal also reported that law enforcement agencies have identified direct operational and financial connections between the platform and Rajesh Rajdev, who is described as a key figure behind multiple major illegal betting applications internationally.

Key Details

• The ED seized ₹30.30 lakh in cash during the searches, as reported by the Free Press Journal.
• More than 100 bank accounts, mutual funds, and shares with an approximate combined value of ₹5 crore were frozen, according to the Free Press Journal.
• Two bank lockers and three luxury vehicles, valued at roughly ₹1.70 crore, were secured, according to the Free Press Journal.
• 11 mobile phones and a laptop were seized, containing suspected digital evidence related to the alleged gaming operations and financial transactions, the Free Press Journal reported.
• Documents pertaining to immovable properties, valued at approximately ₹16.50 crore, were also recovered, according to the Free Press Journal.
• The investigation stems from an FIR filed against Jain and others by the Cyber Crime Police Station in Nagpur City under relevant provisions of the IPC and the Information Technology Act, as stated by the Free Press Journal.
• The alleged modus operandi involved luring a complainant into online gaming with promises of high returns, manipulating platforms to prevent winnings, and defrauding the complainant of approximately ₹58.42 crore, according to the Free Press Journal.
• Funds were reportedly traced through a network of bank accounts and cash channels, including “mule accounts” used to receive and layer proceeds, with analysis revealing transactions of several crores of rupees, as reported by the Free Press Journal.

Why It Matters

This multi-city operation by the Enforcement Directorate underscores the ongoing regulatory scrutiny of online betting and its alleged links to illicit financial activities, including money laundering. The involvement of digital platforms and hawala networks highlights the complex challenges in tracing and seizing proceeds from such operations in regulated markets. The scale of assets seized and frozen, along with the reported manipulation of gaming platforms, indicates the potential for significant financial fraud within the online betting sector, impacting both individuals and the broader financial ecosystem. The Free Press Journal reports that the findings suggest a sophisticated, cross-border syndicate, which could have broader implications for regulatory enforcement and financial oversight.

What’s Next

The ED stated that the seized financial and digital evidence could aid in establishing the alleged generation, concealment, layering, and use of proceeds of crime generated through the betting operations, according to the Free Press Journal.

Originally reported by Free Press Journal·Published 21 Aug 2026, 15:02