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 accused of facilitating online gambling under the guise of online gaming. In a recent development, the ED’s Gurugram Zonal Office has attached ₹117.41 crore worth of movable and immovable assets belonging to Probo as part of its money laundering investigation. 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 found that Probo had been cheating its customers by allowing online gambling on its platform, disguising it as online gaming. The company’s actions were deemed to be in violation of the law, and the ED had been investigating the matter under the Prevention of Money Laundering Act (PMLA). The attachment of assets is a significant development in the case, as it prevents Probo from accessing or disposing of these assets, which are believed to be proceeds of crime.
The ED’s investigation had revealed that Probo had been operating a platform that allowed users to engage in online gambling, despite claiming to offer only online gaming services. The company had been using various tactics to lure customers into participating in these activities, including offering attractive prizes and bonuses. However, the ED found that the platform was designed to favor the house, and customers were likely to lose money in the long run.
The government’s introduction of the online gaming law in August was a major blow to Probo, as it forced the company to shut down its platform. The law regulates online gaming and prohibits online gambling, making it clear that companies like Probo cannot operate in the grey area between the two. The ED’s probe and the attachment of assets are a further indication that the government is serious about cracking down on companies that engage in illegal activities under the guise of online gaming.
The attachment of ₹117.41 crore worth of assets is a significant development in the case, as it shows that the ED is committed to recovering the proceeds of crime. The assets attached include both movable and immovable properties, such as bank accounts, investments, and real estate. The ED has also identified other assets that are believed to be linked to Probo, and these may be attached in the future as part of the ongoing investigation.
The case against Probo is a reminder that the government is watching the online gaming industry closely, and companies that engage in illegal activities will be held accountable. The ED’s probe and the attachment of assets are a warning to other companies that may be operating in the grey area between online gaming and online gambling. The government’s introduction of the online gaming law and the ED’s investigation are aimed at protecting consumers and preventing companies from exploiting them.
In conclusion, the ED’s attachment of ₹117.41 crore worth of assets belonging to Probo is a significant development in the case against the company. The ED’s probe has found that Probo cheated its customers by facilitating online gambling under the guise of online gaming, and the attachment of assets is a major setback for the company. The government’s introduction of the online gaming law and the ED’s investigation are aimed at regulating the industry and preventing companies from engaging in illegal activities. As the investigation continues, it is likely that more companies will be held accountable for their actions, and the online gaming industry will become a safer and more regulated space for consumers.
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