Gameskraft Cofounders Arrested in ₹1,000 Cr Betting Fraud Probe

ED Nabs Gameskraft Cofounders Amidst ₹1,000 Crore Fraud Investigation

The Enforcement Directorate (ED) has taken a significant step in its ongoing probe into alleged financial irregularities by arresting three cofounders of the prominent gaming platform, Gameskraft Technologies. This development is linked to a substantial money laundering case, reportedly involving fraud associated with betting activities amounting to approximately ₹1,000 crore. The arrests were made under the stringent provisions of the Prevention of Money Laundering Act (PMLA), signaling the seriousness of the allegations and the ED’s commitment to uncovering the full extent of the financial crimes.

Key Figures Apprehended in Delhi NCR and Bengaluru

According to official sources, the individuals arrested are Deepak Singh, Prithvi Raj Singh, and Vikas Taneja. Deepak Singh and Prithvi Raj Singh were taken into custody in the Delhi NCR region. Following their arrest, the ED secured transit remand orders to present them before a Bengaluru court, indicating the jurisdiction of the case. Meanwhile, Vikas Taneja was apprehended in Bengaluru itself and subsequently produced before the local jurisdictional court. These coordinated arrests are a culmination of extensive investigations by the ED into the operations of Gameskraft and its associated entities.

Money Laundering Case Built on Multiple FIRs

The ED’s money laundering case against Gameskraft has been initiated based on a foundation of multiple First Information Reports (FIRs) filed by various authorities. These FIRs allege serious charges of cheating and fraud against the gaming company. The agency’s probe aims to untangle a complex web of financial transactions suspected to be part of a large-scale betting-linked fraud. The scale of the alleged fraud, pegged at ₹1,000 crore, underscores the gravity of the situation and the potential impact on the digital gaming and fintech sectors in India.

Extensive Search Operations Yield Crucial Documents

In parallel with the arrests, the Enforcement Directorate conducted extensive search operations across 17 different locations spanning the Delhi NCR and Karnataka regions. These searches, which reportedly continued through the early hours of the morning, were aimed at gathering crucial evidence, documents, and financial records pertaining to the alleged fraud. The seizure of certain documents during these operations is expected to provide vital leads for the ongoing investigation, helping the ED to further solidify its case against the accused and the company. The agency’s thorough approach highlights its determination to bring all involved parties to account.