Explore the latest news, in-depth reports, and executive analysis tagged with #Mahadev Betting.
Enforcement Directorate (ED), Directorate General of GST Intelligence (DGGI) actions against online gaming and fintech companies in last couple of months.
ED seized cash, bullion, incriminating documents, froze four luxury vehicles; and identifies Dubai-based Grenadian national as Pay10's alleged ultimate beneficial owner.
Over the past three months, officials from 6-7 fintech firms, including Fino Payments Bank, have been arrested, sent to custody, had their offices searched, or bank accounts frozen in connection with illegal gaming tax evasion cases.
RUGR and IppoPay are now part of the wider investigation into suspected GST violations tied to a high-value online betting case.
The investigation revealed that the Probo platform defrauds its users by initially promoting a "deceptive image of a legitimate skill-based platform, only to ultimately exploit them through a betting mechanism..."
The ED has seized assets valued to the tune of Rs 2295.61 crore in this case.
