Dabba Trading, Betting Syndicate Earned Over ₹400 Crore: ED

2025-12-24 02:04:49

(MENAFN- Kashmir Observer) Indore ~ The Enforcement Directorate (ED) has told a special court in Indore that members of a syndicate involved in illegal 'dabba trading', or illegal and unregulated trading of securities, and online betting activities internationally earned Rs 404.46 crore through criminal means.

The ED gave this information in a release on Tuesday.

The central probe agency has filed a prosecution complaint against a syndicate involved in illegal 'dabba trading' and online betting activities operating on a large scale in Indore, Mumbai, Ahmedabad, Chennai and Dubai, it said.

A complaint was filed on Monday before a special court for Prevention of Money Laundering Act (PMLA) cases in Indore, the release said.

“The investigation identified proceeds of crime amounting to Rs 404.46 crore derived from manipulated trading platforms, illegal betting websites and unregulated white label applications,” it said.

According to the release, in addition to this quantification, the investigation led to the provisional attachment of assets worth Rs 34.26 crore, comprising immovable properties worth Rs 28.60 crore, movable assets valued at Rs 3.83 crore, and balances of Rs 1.83 crore in bank order accounts.

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