The attached assets include mutual fund investments of ₹6.64 crore in Raina’s (right) name and an immovable property valued at ₹4.5 crore owned by Dhawan (left)
ED attaches Rs 11-crore assets of Suresh Raina, Shikhar Dhawan in illegal betting case
This action is connected to a money laundering investigation against offshore platform 1xBet; this scam exceeds ₹1,000 crore, say ED officials
The Enforcement Directorate (ED) has provisionally attached assets worth ₹11.14 crore belonging to former cricketers Suresh Raina and Shikhar Dhawan, as part of a money-laundering investigation tied to illegal offshore betting platforms.
The attached assets include mutual fund investments of ₹6.64 crore in Raina’s name and an immovable property valued at ₹4.5 crore owned by Dhawan.
Investigators estimate that the total money laundering trail linked to the case now exceeds ₹1,000 crore.
Unauthorised operations
According to ED officials, the action is linked to a broader probe into unauthorised online betting operations run by platforms such as 1xBet and its surrogate brands 1xBat and 1xBat Sporting Lines. The investigation, based on multiple FIRs filed by state police agencies, uncovered that these entities were illegally operating unauthorised online betting and gambling services targeting Indian users.
Also read: Online betting case: ED to attach assets of cricketers, actors
The ED stated that both Raina and Dhawan had entered into endorsement agreements with foreign entities to promote these surrogate brands. Payments for these deals were allegedly routed through layered foreign transactions designed to obscure their origin, which the agency claims are actually proceeds of crime stemming from unlawful betting activities.
Vast network
During the investigation, authorities uncovered that 1xBet had established a vast betting network across India, operating through more than 6,000 mule accounts.
User funds were allegedly funnelled through various payment gateways without adequate KYC verification, effectively concealing their origin. Additionally, merchants were allegedly onboarded under misleading claims, with their stated business activities not aligning with actual transaction behaviours.
Follow-up searches at four payment gateways have resulted in the seizure of incriminating evidence and the freezing of over ₹4 crore spread across 60 bank accounts. Investigators estimate that the total money laundering trail linked to the case now exceeds ₹1,000 crore.
Public advisory
The ED has now issued a public advisory urging caution against online betting and gambling platforms.
Also read: ED summons ex-MP Mimi Chakraborty, Urvashi Rautela in betting app case
Citizens are advised not to disclose sensitive banking information to unknown entities, and warned that knowingly aiding such operations could lead to prosecution under the Prevention of Money Laundering Act, carrying penalties of up to seven years in prison.
Fraud hubs
The agency emphasised that illegal betting platforms are not only vehicles for financial fraud but also hubs for extensive money laundering and other criminal activities.
The investigation into the 1xBet network and its associated individuals are ongoing.