ED’s Red in Mumbai.
The Enforcement Directorate i.e. ED has raided 4 places in Maharashtra’s capital Mumbai in a large box trading and online betting case. In this action, ED has seized unaccounted cash, luxury watches, jewelery, foreign currency and luxury vehicles worth Rs 3.3 crore. The ED has also received cash counting machines during raids. Let us know what has been detected in this matter so far.
What is the whole matter?
On behalf of ED, Section 319 (2) and 318 (4) of BNS were started in this case on the basis of FIR number 0041/2025 at Lasudia Police Station, Indore. Investigation so far has revealed that,
- Dabba Trading Apps under the scope of investigation: VMoney, VM Trading, Standard Trades Limited, Ibul Capital, Lotusbook, 11STARSS, Gamebet League.
- Exchange of admin rights based on online betting platform and profit sharing operated through white-labeled apps.
- The hawala operators and fund operators have been identified, and their digital and financial records are being examined.
Under the investigation of illegal box trade and online betting network by ED, things have been seized in a search operation conducted in four premises in Mumbai,
- ₹ 3.3 crore unconscious cash
- Luxury watches and jewelery of high value
- Foreign currency
- Luxury vehicle
What has been revealed in the investigation so far?
ED investigation has revealed that Vishal Agnihotri, the beneficiary owner of VMoney and 11STARSS, had gained admin rights of the Lotusbook betting platform on the system of 5% profit sharing. Later he transferred these rights to Dhawal Devraj Jain, which led him 0.125% profit, while Jain had 4.875% profit. Dhawal Jain along with his colleague John States alias Pandey developed a white-labeled betting platform and supplied it to Vishal Agnihotri to run 11STARSS.IN. A hawala operator Mayur Padya aka Padya handled cash-based money transfer and payment for betting operations.
Also read- Jaipur: 78 lakh cash and luxury vehicles recovered in ED raids, hearing the name will fly away
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