Fairplay betting case: ED seizes Rs 219.7 cr in assets as probe expands

The Enforcement Directorate (ED) has attached  fresh assets worth approximately Rs 219.66 crore, including land, flats, and Demat holdings, linked to a money laundering investigation into "Fairplay"—a company involved in illegal broadcasting and online betting, it said in a release on Monday.  The case is against a website that allegedly indulged in online betting on 2023 Lok Sabha election results apart from an illegal broadcast of IPL cricket matches.

 

The central agency said Fairplay was involved in "illegal broadcasting of cricket/IPL matches and various online betting activities including results of Lok Sabha Elections 2024." The total value of these assets is Rs 219.66 crore.

 

 

The probe is based on a complaint from Viacom18. ED investigations identified key figures behind Fairplay operating from Dubai, with assets acquired through proceeds of crime. Earlier seizures have brought the total attachment to Rs 331.16 crore. 

 

The money laundering case stems from an FIR of the Mumbai police cyber cell which was filed on the complaint of Viacom18 Media Pvt Limited against Fairplay Sport LLC and others for causing loss of revenue of more than Rs 100 crore.

 

Case explained: 

 

This latest action involves the provisional attachment of both movable and immovable assets linked to the Fairplay group, a company accused of engaging in the unlawful broadcasting of cricket matches, including the Indian Premier League (IPL), as well as various online betting operations.

 

The attached assets include Demat account holdings and valuable real estate properties spread across several locations in India, including Ajmer (Rajasthan), Kutch (Gujarat), Daman, Thane, and Mumbai (Maharashtra). These properties and financial holdings have been tied to the proceeds of crime under the Prevention of Money Laundering Act (PMLA), 2002.

 

The investigation against Fairplay started after the Viacom18 Media lodged a complaint with the Cyber Police in Mumbai. The complaint led to the registration of an FIR against M/s. Fairplay Sport LLC and its associates. The charges involve a massive loss of revenue amounting to over Rs 100 crore, primarily due to illegal activities related to the streaming and broadcasting of cricket matches without authorization, as well as online gambling and betting. The Enforcement Directorate's investigation revealed that these illegal activities were part of a larger, organized operation led by Krish Laxmichand Shah, the primary figure behind the operations of Fairplay.

 

Further examination of Shah’s activities revealed that he had set up several companies in different countries to facilitate the operations of Fairplay. These companies included 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. 

 

The investigation found that Shah, operating primarily from Dubai, managed the illicit activities of Fairplay with the assistance of key associates, such as Siddhant Shankaran Iyer (alias Joe Paul), who handled the financial side of the operations, and Chirag Shah and Chintan Shah, who were responsible for technological development and software management.

 

As part of their illicit dealings, Shah and his associates used the proceeds of crime to acquire movable and immovable assets. In some cases, these assets were registered in the names of their relatives and family members to conceal the true ownership and make it harder for authorities to trace. This pattern of asset acquisition, funded by illegal activities, raised alarm bells with law enforcement agencies, prompting them to launch a thorough investigation.

 

The Enforcement Directorate has already carried out multiple search operations earlier this year, with raids on June 12, August 27, September 27, and October 25, 2024. During these operations, the ED seized a variety of assets, including financial documents and digital devices, all of which contained evidence pointing towards the illegal activities conducted by the individuals and entities linked to Fairplay.

 

As of now, the total value of attached assets in the case has reached a staggering Rs 331.16 crore.