ED Uncovers Alleged Betting, Gaming and Cyber Fraud Money Trail Across India

The Enforcement Directorate (ED) has uncovered an alleged large-scale cyber fraud and money-laundering network involving Delhi-based payment aggregator firms, claiming that a Dubai-based Grenadian national was the “ultimate beneficial owner” behind one of the accused companies.

In a statement issued on Saturday, the ED said it conducted searches between May 13 and May 15 at premises linked to Pay10 Services Private Limited, formerly known as Bhartipay Services Private Limited, Asian Checkout Private Limited and associated entities across Delhi-NCR, Punjab’s Ludhiana and Mandi Gobindgarh, and Agra in Uttar Pradesh.

The agency alleged that the firms operated under the guise of payment gateway and payment aggregator platforms while facilitating transactions connected to online betting, gaming, cyber fraud and fake invoicing activities .

According to the ED, the accused entities created several fictitious websites to project bogus sales of goods and services despite there being no genuine business activity. Investigators claimed that fake GST invoices and fabricated merchant transactions were used to route and layer illicit funds to conceal their origin.

The agency said the operation involved laundering “hundreds of crores of rupees” through fake websites and payment gateways. Certain chartered accountants were also allegedly involved in assisting the network.

The ED further alleged that proceeds of crime were generated from online betting operations, bogus garment merchants, liaisoning activities and other cyber-linked offences.

During the raids, officials seized cash worth ₹1.4 crore, jewellery and bullion valued at ₹65 lakh, and multiple digital devices. The agency also froze four luxury vehicles linked to the accused firms under the Prevention of Money Laundering Act (PMLA).

The companies have not yet publicly responded to the allegations.