In relation to a huge ₹1,000 crore cricket betting fraud employing the app “Magic Win,” Enforcement Directorate (ED) agents conducted raids at several sites in Ahmedabad, Surat, Bangalore, Lucknow, Delhi, Mumbai, and Coimbatore.
The ED confiscated Magic Win’s operator’s office, retrieved ₹3.55 crore in cash, and frozen ₹30 lakh in a bank account connected to the scheme.
This massive scam, which is connected to a cricket betting software, is alleged to include numerous people, including well-known celebrities. Along with customers and investors who invested crores of rupees in the site, including cryptocurrencies, ED agents in India have detained the app’s promoters.
More than 100 fraudulent bank accounts and more than 50 phony businesses have been seized by the agency. The entire scheme is thought to be worth around ₹1000 crore.
Those who owned the legal broadcasting rights suffered financial losses as a result of Magic Win’s suspected unlawful streaming of cricket matches. Top Bollywood actresses, cricket players, and celebrities reportedly participated in the app’s promotional parties, uploading images and videos on their own accounts to spread the word. According to reports, these celebrities received millions of rupees for their involvement, and their involvement is still being investigated.
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