The Enforcement Directorate (ED) has conducted searches at premises linked to fantasy sports platform Dream11 as part of an ongoing money laundering investigation connected to the alleged ₹2,000 crore fraud involving Jai Corp Ltd, according to people familiar with the matter.
The searches were carried out under the Prevention of Money Laundering Act (PMLA) to assess the extent of Dream11’s involvement and to examine the financial exposure of key individuals linked to the case. Investigators are probing whether funds allegedly misappropriated by Jai Corp were routed through technology-enabled platforms, including sports gaming and digital intermediaries.
The development follows a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI), which alleged that Jai Corp siphoned off funds raised from banks and investors, resulting in losses amounting to ₹2,434 crore. The ED’s probe is focused on tracing the money trail and identifying entities that may have facilitated the layering or diversion of funds.
Sources said the agency is scrutinising transaction records, investment structures, and potential links between Jai Corp and associated entities across multiple sectors. The investigation is also examining whether technology platforms were used to mask fund flows or create complex financial routing mechanisms.
Dream11 has not issued an official statement on the searches at the time of publishing. The company, one of India’s largest online gaming platforms, has previously stated its commitment to regulatory compliance and transparency.
The case underscores the growing regulatory scrutiny on digital platforms amid concerns that complex corporate structures and high-velocity transactions could be misused for financial crimes. As enforcement agencies tighten oversight, the outcome of the probe could have broader implications for compliance standards across India’s online gaming and technology ecosystem.
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