The Enforcement Directorate (ED) has frozen four HSBC bank accounts worth Rs 46.96 crore after it raided places linked to companies involved in running Chinese betting apps, according to an official statement.
15 locations in Delhi, Gurgaon, Mumbai, and Pune were raided on Friday under various sections of the Prevention of Money Laundering Act (PMLA).
"Searches were conducted on the registered offices of the companies, their directors and chartered accountants involved in illegally running online betting apps from websites which are hosted from outside India," the investigative agency said in a statement on Saturday.
It also seized 17 hard disks, five laptops, mobiles, documents during searches at 15 locations in Delhi, Gurugram, Mumbai, and Pune under PMLA in case of illegal online betting apps from websites hosted from outside India.
As per the investigation, Chinese nationals floated multiple Indian companies with the help of some Indian chartered accountants.
"Initially dummy Indian directors were used to incorporate the companies and after some time Chinese nationals travelled to India and took directorship in these companies," it said.
The case is based on an FIR filed by Telangana Police against the accused early this year.