Massive Crackdown: Unveiling the Rs 13,000 Crore Online Gaming Syndicate
The DGGI's Hyderabad unit has uncovered a Rs 13,000 crore online gaming syndicate involving illegal operations via fintech firms. Pankaj Kumar, a key mastermind, has been arrested as investigations continue, highlighting fraudulent KYC practices and substantial financial misconduct linked to online gaming activities.
- Country:
- India
In a significant operation, the DGGI's Hyderabad zonal unit disclosed its investigation into an organized Rs 13,000 crore syndicate running illegal online gaming websites across India. This syndicate, supported by fintech companies, has led to one arrest so far.
Pankaj Kumar, the founder of Adsum Advisory Service Pvt Ltd, was arrested for his role in fraudulent merchant verification, aiding illegal financial transactions. The crackdown seeks to dismantle the network and halt illegal practices.
Authorities have frozen bank accounts totaling Rs 100 crore and identified further illicit financial activities. The investigation remains intensive, with a focus on tracing and eliminating illegal syndicate operations.
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