ED Attaches Assets Worth ₹307 Crore in Fairplay Money Laundering Probe

The Enforcement Directorate (ED) has taken significant actions in its ongoing investigation into 'Fairplay', a company facing accusations of illegal broadcasting and online betting. Assets amounting to Rs 307.16 crore have been attached under the Prevention of Money Laundering Act, 2002, the ED announced on Monday.

The investigation was initiated following an FIR filed by Viacom18 Media Pvt Limited, alleging substantial revenue losses due to Fairplay's operations. Multiple FIRs have been consolidated for investigation, with the focus on overseas fund movements and trade-based money laundering strategies.

Krish Laxmichand Shah emerges as a central figure, with operations in Dubai supported by associates like Anil Kumar Dadlani. The ED's intensive search operations and asset seizures now total Rs 651.31 crore. Several arrests have been made, and a prosecution complaint has been filed in Mumbai's Special PMLA Court.

(With inputs from agencies.)