ED freezes Rs 192 crore linked to Winzo in money laundering probe

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The Enforcement Directorate (ED) has frozen assets worth around Rs 192 crore after conducting search operations linked to online real money gaming (RMG) platform WinZO, according to an official statement issued on Thursday.

The searches were conducted on December 30 by the ED’s Bengaluru zonal office at the premises of an accounting firm associated with WinZO, as part of a probe under the Prevention of Money Laundering Act (PMLA), 2002.

During the operation, the agency froze what it described as “proceeds of crime” held by ZO Games, WinZO’s…



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ED freezes Rs 192 crore linked to Winzo in money laundering probe



The Enforcement Directorate (ED) has frozen assets worth around Rs 192 crore after conducting search operations linked to online real money gaming (RMG) platform WinZO, according to an official statement issued on Thursday.

The searches were conducted on December 30 by the ED’s Bengaluru zonal office at the premises of an accounting firm associated with WinZO, as part of a probe under the Prevention of Money Laundering Act (PMLA), 2002.

During the operation, the agency froze what it described as “proceeds of crime” held by ZO Games, WinZO’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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