The Enforcement Directorate (ED) conducted a series of search operations at eight locations across Mumbai and Kutch, Gujarat, on October 25 as part of its ongoing investigation into Fairplay, an online betting platform allegedly involved in the illegal broadcasting of cricket matches, including the IPL.
The raids, conducted under the Prevention of Money Laundering Act (PMLA), 2002, led to the seizure and freezing of movable assets, including cash, bank funds, and silver bars totaling an estimated Rs 4 crore. Additionally, investigators recovered various incriminating documents, digital devices, and property documents.
About The ED’s Investigation
The ED’s investigation, spurred by an FIR filed by Viacom18 Media Pvt Ltd. with the Nodal Cyber Police in Mumbai, alleges a sophisticated network operated by Fairplay Sports LLC and related comp.es, which the ED claims cost Viacom18 over Rs 100 crore in lost revenue. The complaint accuses Fairplay of violations under the Indian Penal Code (IPC), the Information Technology Act, and the Copyright Act, propelling the ED to target the platform’s financial conduits.
Central to the case is Krish Laxmichand Shah, believed to be the mastermind of Fairplay. The ED’s probe has uncovered a network of international shell comp.es—including M/s. Play Ventures N.V. and M/s. Dutch Antilles Management N.V. in Curacao, M/s. Fair Play Sport LLC and M/s. Fairplay Management DMCC in Dubai, and M/s. Play Ventures Holding Limited in Malta—set up to support Fairplay’s global operations. Dubai has emerged as Fairplay’s operational nerve center, with technical and financial logistics managed through entities in India.
Incriminating Documents & Digital Evidences Seized
Incriminating documents and digital evidence seized during the raids revealed further startling insights, including the acquisition of high-value assets in India worth over Rs. 100 crore by individuals connected to the betting network.
These recent raids follow previous ED operations conducted in June, August, and September, during which assets valued at approximately Rs. 113 crore were frozen. The total haul in the case now stands at Rs. 117 crore as authorities intensify efforts to dismantle Fairplay’s extensive betting empire.
The ED investigation is ongoing, on the largest cross-border betting and money laundering crackdowns.