ED attaches Probo’s ₹117-crore assets for allowing online gambling
In a significant crackdown on online gambling, the Enforcement Directorate (ED) has attached assets worth ₹117.41 crore belonging to Probo Media Technologies, a company that was found to be facilitating online gambling under the guise of online gaming. The attachment of assets is part of the ED’s money laundering probe against Probo, which had been operating in the country until it shut down its platform in August this year.
The ED’s Gurugram Zonal Office attached the movable and immovable assets, which include properties, bank accounts, and other investments, after conducting a thorough investigation into Probo’s activities. The probe had revealed that Probo was cheating its customers by allowing them to engage in online gambling, which is illegal in many parts of the country. The company had been operating its platform under the guise of online gaming, which is a legitimate and regulated industry in India.
However, the ED’s investigation found that Probo’s platform was being used for online gambling, which is a serious offense under Indian law. The company’s activities were found to be in contravention of the Public Gambling Act, 1867, and the Information Technology Act, 2000. The ED’s probe also revealed that Probo had been laundering the proceeds of its illegal activities, which is a serious offense under the Prevention of Money Laundering Act, 2002.
The attachment of Probo’s assets is a significant development in the ED’s crackdown on online gambling in the country. The move is expected to send a strong message to other companies that are engaged in similar activities, and are using the guise of online gaming to cheat their customers. The ED’s action is also expected to provide relief to the customers who had been cheated by Probo, and had lost money on the company’s platform.
Probo had shut down its platform in August this year, after the government introduced a new law to regulate online gaming in the country. The law, which was introduced to curb online gambling and protect consumers, had made it mandatory for online gaming companies to obtain a license from the government before operating in the country. However, Probo had not obtained the necessary license, and had been operating its platform illegally.
The ED’s probe into Probo’s activities had been ongoing for several months, and had involved the analysis of thousands of documents and digital records. The probe had also involved the questioning of several individuals, including Probo’s executives and employees. The ED’s investigation had found that Probo had been using a complex network of shell companies and bank accounts to launder the proceeds of its illegal activities.
The attachment of Probo’s assets is a significant achievement for the ED, which has been cracking down on online gambling and money laundering in the country. The move is expected to provide a major boost to the government’s efforts to curb online gambling, and to protect consumers from cheating and fraud. The ED’s action is also expected to send a strong message to other companies that are engaged in similar activities, and are using the guise of online gaming to cheat their customers.
In recent years, there has been a significant increase in online gambling in the country, with many companies operating platforms that allow customers to engage in online betting and gaming. However, many of these companies have been found to be operating illegally, and have been using the guise of online gaming to cheat their customers. The government has been taking steps to curb online gambling, and has introduced new laws and regulations to regulate the industry.
The ED’s crackdown on Probo is a significant development in the government’s efforts to curb online gambling, and to protect consumers from cheating and fraud. The move is expected to provide a major boost to the government’s efforts to regulate the online gaming industry, and to ensure that companies operating in the sector are complying with the law.
In conclusion, the ED’s attachment of Probo’s assets is a significant development in the crackdown on online gambling in the country. The move is expected to send a strong message to other companies that are engaged in similar activities, and are using the guise of online gaming to cheat their customers. The ED’s action is also expected to provide relief to the customers who had been cheated by Probo, and had lost money on the company’s platform.
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