ED attaches Rs 505 cr in foreign bank a/cs linked to Winzo case

Bengaluru The Enforcement Directorate (ED), Bengaluru Zonal Office, has provisionally attached movable properties -- balance in the foreign bank accounts, maintained in the USA and Singapore, amounting to USD 55.69 Million (Rs 505 crore), held in the names of overseas shell companies operated and controlled by one Paavan Nanda and Saumya Singh Rathore, under Public Money Laundering Act (PMLA), an official statement said on Wednesday.

The company is accused of using artificial or automated gaming profiles in real-money games, which may have unfairly impacted players and led to monetary losses. To date, the total proceeds of crime attached/frozen in the instant case are around Rs 1,194 crore.

The action has been taken in the case of Winzo Pvt Ltd, which caused loss to the users by applying BOT/AI/Algorithm profiles in the online real money games and generated proceeds of crime to the tune of Rs 3,522.05 crore, the ED stated.