Chinese companies running online betting in India, ED seized accounts

New Delhi: The Enforcement Directorate (ED) has freezed  four accounts of HSBC Bank. These bank accounts were operated by Chinese companies operating in India. These companies were running online betting rackets. The bank accounts of  these companies are accused of violating the rules and have 46.96 crores deposited in these accounts.

The Enforcement Directorate has raided these companies before taking any legal actions. The ED raided 15 places in Delhi, Gurugram, Mumbai and Pune, after which this action was taken. Apart from this, the investigating agency  raided the offices of the registrar, directors, chartered accountants of these companies. These gambling applications were hosted from outside India.

The ED has ceased 17 hard disks, 5 laptops, Phones, objectionable documents and 4 bank accounts having 46.96 crores. ED has filed a money laundering case against the chinese company Dokipe Technologies Pvt Ltd and lingyuan technology Pvt Ltd.

ED scrutinized 2 bank accounts of Dokipe Technologies Pvt Ltd and found last year  these accounts had a collection of Rs 1,268 crore, out of which Rs 300 crore came through Paytm Payment Gateway and Rs 600 Crore went out through Paytm Gateway.

The investigating agency claims, ‘ an illegal payment of Rs 120 crore was made from these accounts’. ED said, ‘such financial transactions are made on a large scale, which has no basis. These transactions have been with Indian companies that ran online Chinese dating apps’. The ED suspects that these companies were also involved in hawala business. Currently,  ED is investigating online valet companies and HSBC.

During investigation, ED learnt with the help of Chartered accountants many chinese citizens have incorporated Indian companies. First dummy directors were appointed and then companies were incorporated. Later, took the directorship from the fake ones.