Hyderabad: Enforcement Directorate (ED) officials carried out searches on Wednesday under the Foreign Exchange Management Act, 1999 at 25 premises including in Andhra Pradesh in relation to the investigation being done against online gaming companies and websites registered abroad and operating in India.
During the searches, various incriminating documents, electronic devices, Rs. 19.55 lakh in cash, US$ 2,695 have been seized. Also, 55 bank accounts have been frozen.
According to officials, the offenders indulged in a remittance of Rs 4,000 crore sent in the guise of payments for the import of goods and services.
The searches were carried out under the provisions of FEMA, 1999 in Delhi at 11 places, seven places in Gujarat, four places in Maharashtra, two places in Madhya Pradesh, and one place in Andhra Pradesh.
These online gaming companies/websites are registered in small island countries like Curacao, Malta, and Cyprus.
However, all of them are linked to Indian Bank Accounts opened in the name of proxy persons who have no links to online gaming activity.
