PRESS RELEASE
16.01.2025
Directorate of Enforcement (ED), Mumbai Zonal Office has issued Provisional Attachment Order
on 15.01.2025 for assets worth Rs. 8.37 Crore (approx.), under Prevention of Money Laundering Act
(PMLA), 2002 as part of the ongoing probe in the case of “Fairplay” which was involved in illegal
broadcasting of C ricket/IPL matches and various online betting activities. Provisionally attached
assets include immovable assets in the forms of flats and commercial office at New Delhi and
Gurugram.
ED initiated investigation on the basis of FIR registered by M/s. Viacom18 Media Pvt Limited
with Nodal Cyber Police, Mumbai against M/s. Fairplay Sport LLC and others under various sections of
IPC,1860, Information Technology Act, 2000 and Copyright Act, 1957 for causing loss of revenue of
more than Rs.100 Crore (Proceeds of Crime).
ED i nvestigation revealed that M/s. Beffy Finserve P rivate Limited and M/s. Truefund
Innovations India Private Limited has facilitated illegal payout services to users of the Fairplay. It has
been established that M/s. Fairplay systematically collected funds from its users through mule and
dummy bank accounts, which were subsequently layered and circulated through multiple intermediary
dummy/mule bank accounts. Thereafter, these funds were transferred to the bank accounts of M/s.
Truefund Innovations India Pvt. Limited and M/s. Beffy Finserve Pvt. Limited for the purpose of
executing payouts to Fairplay users illegally. In consideration for providing these illegal payout services,
the said companies received commission which was utilized by the Directors of the said companies to
acquire immovable properties, including residential flats and commercial properties in the names of self
and related persons/entities.
Earlier, ED has conducted search operations in this case on 12.06.2024, 27.08.2024,
27.09.2024 & 25.10.2024 resulting in seizure/freezing of various movable assets along with various
other incriminating documents & digital devices and ED also issued a Provisional Attachment Orders
on 22.11.2024 and 26.12.2024 in this case. Total attachment & seizure in this case till date amounts to
Rs. 344.15 Crore (approx.).
Further investigation is under progress.
Brief
"On 16/01/2025, the Enforcement Directorate (ED) issued an update regarding ED, Mumbai Zonal Office has provisionally attached assets worth Rs. 8.37 Crore (approx.), on 15.01.2025 assets in the forms of flats and commercial office at New Delhi and Gurugram under PMLA, 2002 as part of the ongoing probe in the case of “Fairplay” which was involved in illegal broadcasting of Cricket/IPL matches and various online betting activities. This provisional attachment is in addition to the total attachment & seizure in this case till date amounts to Rs. 344.15 Crore (approx.)."
Highlights content goes here...
Purpose:
The Directorate of Enforcement (ED), Mumbai Zonal Office has issued a Provisional Attachment Order on January 15, 2025, under the Prevention of Money Laundering Act (PMLA) 2002, as part of an ongoing probe into the case of “Fairplay”. The order provisionally attaches assets worth Rs. 8.37 Crore (approximately), which are believed to be proceeds of crime related to illegal broadcasting of cricket/IPL matches and various online betting activities.
The purpose of this update is to inform stakeholders about the ED’s actions in attaching assets belonging to individuals or entities involved in the Fairplay case, as well as to provide context on the ongoing investigation and its findings. This attachment order is a significant step towards freezing assets suspected to be proceeds of crime, allowing further investigation and potential prosecution.
Effects on Industry:
The ED’s action has implications for various industries, including:
- The sports broadcasting and online betting sectors, which have been impacted by the illegal activities of Fairplay.
- The financial sector, as several companies, including M/s. Beffy Finserve Private Limited and M/s. Truefund Innovations India Private Limited, have been involved in facilitating illegal payout services to users of Fairplay.
The provisional attachment order may also have a broader impact on the online betting industry, as it highlights the risks associated with such activities and the need for companies to comply with relevant laws and regulations.
Relevant Stakeholders:
The following stakeholders are affected by this update:
- The directors and owners of M/s. Fairplay Sport LLC and other entities involved in the case.
- The employees and users of Fairplay who may have been affected by the illegal activities.
- The financial institutions and companies that facilitated the transfer of funds related to Fairplay.
- The law enforcement agencies, including the Directorate of Enforcement (ED), which are conducting the investigation.
These stakeholders should be aware of the ED’s actions and the potential consequences for their involvement in or association with the Fairplay case.
Next Steps:
The next steps in this case will depend on the ongoing investigation and any further actions taken by the ED. These may include:
- Further attachment of assets suspected to be proceeds of crime.
- Prosecution of individuals or entities involved in the case.
- Investigation into other companies or individuals who may have facilitated or been aware of Fairplay’s activities.
Stakeholders should be prepared for potential consequences and take necessary steps to comply with relevant laws and regulations.
Any Other Relevant Information:
The ED has conducted search operations in this case on multiple dates, resulting in seizure/freezing of various movable assets along with incriminating documents & digital devices. Total attachment & seizure in this case till date amounts to Rs. 344.15 Crore (approx.). Further investigation is under progress.
This information highlights the scope and complexity of the ED’s investigation and the need for a thorough examination of all aspects related to the Fairplay case.
