ED raids expose online betting network, fresh complaint highlights major names and multi-crore transactions Following Enforcement Directorate raids, a fresh complaint demands a broad investigation into online betting networks, shell companies, and high-value transactions involving several prominent names. The ongoing crackdown by the Enforcement Directorate against alleged online betting and cyber fraud networks has taken a significant turn. Following searches conducted on October 13, 2026, a fresh complaint has emerged demanding a comprehensive probe by investigative agencies while implicating several prominent names. The complaint urges authorities to investigate the alleged financial links between Samundar Singh Rathore, Mukesh Jain, and Ram U. Ramdhani, the already-arrested founder of Adanim FinTech. Searches and Shell Company Web The Enforcement Directorate had conducted search operations across 20 locations in Mumbai, Pune, Mehsana, Surat, and Hyderabad under the provisions of the Prevention of Money Laundering Act. The ongoing investigation centers around alleged fraud and money laundering cases linked to online betting platforms All Panel Exchange and MGM91. According to the agency, funds collected from victims through these platforms were routed to various accounts via the network of Pune-based Adanim FinTech. Probes further revealed that the company had developed a payment intermediary platform named 'IPaisa', through which over 200 shell and front companies were interconnected. Dubai Operations and Outbound Fund Transfers The agency claims these entities were utilized for transactions tied to online betting, gaming, and cyber fraud. According to investigators, the entire network operated through mule bank accounts, digital payment channels, and directives allegedly originating from Dubai. The inquiry reportedly uncovered three primary methods used to siphon illegal funds out of India, which included routing money abroad via trade transactions by showing over-invoicing, cash withdrawals through mule accounts opened in the names of APMC units, and converting funds into cryptocurrency for transfer outside the country. Ram U. Ramdhani, the founder of Adanim FinTech, has already been arrested in connection with the case and is currently in judicial custody. During the searches, multiple documents and digital devices were seized alongside the freezing of several bank accounts. Following the action by the Enforcement Directorate, an individual named Santosh Gholap submitted a detailed complaint to eight central agencies on October 24. The complaint asserts that All Panel Exchange is merely a fraction of a much larger underlying network. Wider Syndicate and Casino Acquisitions As per the complaint, Samundar Singh Rathore is allegedly among the primary operators steering this network. It seeks an investigation into financial transactions linked to online betting exchanges, matka platforms, cyber fraud rings, digital arrest scams, and a Goa-based casino business. The petition alleges that massive numbers of mule bank accounts and UPI IDs were operated through small offices set up across Mumbai, Pune, Goa, Delhi, and Bengaluru. Thousands of crores of rupees were allegedly churned through these channels daily, with operations purportedly run from Dubai. Accusations have also been made regarding facilitating financial transactions connected to Mahadev Online Book. The complainant claimed possession of names, mobile numbers, and transaction details belonging to roughly 20,442 casino players. Additionally, a list containing 17 bank accounts and 46 individuals was submitted to the investigating authorities. The filing alleges that casino chips and betting balances were collected via third-party bank accounts and UPI channels rather than authorized accounts to facilitate tax evasion and financial irregularities. The complaint further alleges that a proposed acquisition of a casino in Goa involved a planned deal worth 900 crore rupees, with 200 crore rupees intended for official records and 700 crore rupees proposed as an off-the-record payment. According to sources, investigative agencies are likely to examine potential financial connections, payment trails, and the role of ultimate beneficiaries concerning the prior enforcement actions and the new allegations. However, the claims made in the complaint have not yet been independently verified, and investigative authorities have not released any official conclusions regarding these assertions. The investigation into the matter remains ongoing. What this means for you The ongoing enforcement actions and subsequent complaints surrounding large-scale online betting and money laundering networks signal tighter regulatory and investigative scrutiny across financial ecosystems. • Across India: Heightened surveillance will be enforced on digital gaming, online betting applications, and entities utilizing shell companies to route illicit funds. Enhanced monitoring of payment channels aims to curb cyber frauds and protect everyday citizens from deceptive financial schemes. • In Maharashtra and Goa: Regional operations involving unauthorized casino transactions and front companies across Mumbai, Pune, and Goa will face intense administrative probes. Local financial networks linked to illegal syndicates are expected to encounter stringent regulatory audits and law enforcement interventions. Why this happened The crackdown escalated after investigators uncovered illicit financial flows routed through online betting platforms and complex payment structures across multiple metropolitan cities. The underlying causes stem from syndicated efforts to launder scam proceeds through shell companies, mule accounts, and outbound channels including cryptocurrencies. • Platform Exploitation: The mobilization of funds through platforms like All Panel Exchange and MGM91 triggered regulatory intervention due to fraudulent layering of victim money. • Intermediary Infrastructure: The creation of payment gateways like 'IPaisa' by Adanim FinTech alongside over 200 front companies facilitated the seamless transfer of tainted capital. • Cross-Border Direction: Operations orchestrated through directives originating from Dubai, coupled with extensive networks of mule accounts and UPI handles moving thousands of crores daily, necessitated multi-agency probes. Questions & Answers 1. In which cities did the Enforcement Directorate conduct searches? The ED conducted search operations across 20 locations in Mumbai, Pune, Mehsana, Surat, and Hyderabad. 2. Which platforms are primarily linked to this investigation? The investigation is linked to online betting platforms such as All Panel Exchange and MGM91. 3. Who is the founder of Adanim FinTech? The founder of Adanim FinTech is Ram U. Ramdhani, who has already been arrested in the case. 4. Who submitted the fresh complaint and when? An individual named Santosh Gholap submitted the detailed complaint to eight central agencies on October 24. 5. What casino deal is mentioned in the complaint? The complaint mentions a proposed casino acquisition deal in Goa worth 900 crore rupees. https://trendkia.com/en/crime/ed-raids-expose-online-betting-network-fresh-complaint-highlights-major-names-and-multi-crore-transactions-53076 TrendKia — Har trend, sabse pehle.