The Enforcement Directorate (ED) of India has conducted searches at 12 locations in connection with a money laundering case involving the iGaming operator Parimatch, according to ANI news agency.
Investigators allege that the operator raised over $318 million in funds over the past year. The raids targeted payment providers that facilitated the deposit and withdrawal of funds for Parimatch, as well as auditors and corporate secretaries linked to the operation.
As reported by the ED, assets worth $11.9 million have been frozen in relation to the case. Payment companies reportedly cashed out the operator's iGaming revenues through cash collection agents, while auditors and corporate secretaries allegedly transferred funds abroad under the guise of legitimate transfers and direct foreign investments.