ED attaches Probo’s ₹117-crore assets for allowing online gambling
The Enforcement Directorate (ED) has taken a significant step in its ongoing probe against Probo Media Technologies, a company that was found to be involved in facilitating online gambling under the guise of online gaming. As part of its money laundering investigation, the ED’s Gurugram Zonal Office has attached ₹117.41 crore worth of movable and immovable assets belonging to Probo. This move is a major setback for the company, which had already shut down its platform in August after the government introduced a new law regulating online gaming.
The ED’s probe had earlier revealed that Probo had been cheating its customers by allowing online gambling on its platform, which was disguised as online gaming. The company had been operating in a grey area, taking advantage of the lack of clear regulations governing online gaming in India. However, with the introduction of the new law, Probo’s activities came under scrutiny, and the company was forced to shut down its operations.
The attachment of Probo’s assets is a significant development in the ED’s probe, which is aimed at uncovering the money laundering activities of the company. The ED has been investigating Probo since last year, and the attachment of assets is a major step towards recovering the proceeds of crime. The attached assets include both movable and immovable properties, such as bank accounts, investments, and real estate.
The ED’s investigation has found that Probo had been generating huge revenues from its online gambling operations, which were disguised as online gaming. The company had been using various tactics to lure customers into its platform, including offering attractive prizes and bonuses. However, the ED’s probe has revealed that the company’s activities were not limited to online gaming, and that it was also involved in online gambling, which is illegal in India.
The attachment of Probo’s assets is a major setback for the company, which had been operating in a grey area for a long time. The ED’s action is expected to send a strong message to other companies involved in similar activities, and is likely to deter them from engaging in online gambling and other illicit activities.
The ED’s probe against Probo is part of a larger crackdown on online gambling and money laundering activities in India. The government has been taking steps to regulate online gaming and prevent the misuse of online platforms for illicit activities. The introduction of the new law regulating online gaming is a significant step in this direction, and is expected to help prevent the exploitation of customers by companies involved in online gambling.
The ED’s action against Probo is also expected to help recover the proceeds of crime, which are estimated to be in hundreds of crores. The attachment of Probo’s assets is a significant step towards achieving this goal, and is likely to be followed by further action against the company and its promoters.
In conclusion, the ED’s attachment of Probo’s ₹117.41 crore worth of assets is a significant development in the probe against the company. The action is a major setback for Probo, which had been involved in facilitating online gambling under the guise of online gaming. The ED’s probe is part of a larger crackdown on online gambling and money laundering activities in India, and is expected to help prevent the exploitation of customers by companies involved in illicit activities.
The ED’s action against Probo is a reminder that the government is serious about regulating online gaming and preventing the misuse of online platforms for illicit activities. The attachment of Probo’s assets is a significant step towards achieving this goal, and is likely to be followed by further action against companies involved in similar activities.
As the ED’s probe against Probo continues, it is likely that more details will emerge about the company’s activities and the extent of its involvement in online gambling. The attachment of Probo’s assets is a significant development in the probe, and is expected to help recover the proceeds of crime. The ED’s action is a major setback for Probo, and is likely to have far-reaching implications for the online gaming industry in India.
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