In a major crackdown on digital financial fraud, the Enforcement Directorate (ED) has conducted simultaneous raids across Delhi, Mumbai, and Bengaluru in a money laundering case tied to online gaming scams. Acting under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, the ED uncovered a significant scam involving fraudulent banking activity and digital gaming platforms.
The investigation is linked to Bedanshu Shekhar Mishra, a former officer of Punjab & Sind Bank, and the operators of the online gaming site Goa247.live.
₹39 Lakh in Cash Recovered, Digital Devices and Evidence Seized
During the raids on seven different premises, the ED recovered ₹39 lakh in cash, in addition to mobile phones, SIM cards, and digital devices suspected to be connected to illegal gaming transactions. The seized evidence is expected to be critical in tracing the flow of illicit funds.
According to ED sources, ₹1.5 crore in 48 fake accounts linked to online gaming transactions has also been frozen. These accounts were reportedly used to funnel money through digital gaming platforms to avoid detection.
How the Scam Unfolded: A ₹52.99 Crore Bank Fraud
The roots of this case trace back to a complaint registered by the CBI Anti-Corruption Branch in New Delhi, which flagged suspicious activity in the banking sector. The main accused, Bedanshu Shekhar Mishra, was posted at Punjab & Sind Bank’s Khalsa College Branch (Delhi University).
Investigations revealed that Mishra illegally broke 46 fixed deposit accounts, many of which belonged to SGTB Khalsa College, without any authorization. These actions led to a massive financial fraud of approximately ₹52.99 crore, affecting both the bank and its customers.
Out of the misappropriated funds, nearly ₹24 crore was routed to online gaming sites like Goa247.live using a network of mule accounts created for the sole purpose of concealing these transactions.
Fake Accounts and Online Gaming Used as Laundering Tools
ED officials have highlighted that the owners of Goa247.live were instrumental in facilitating this fraud. They allegedly provided fake banking accounts to carry out the transfers, helping the funds appear legitimate on the surface. These activities enabled the scam to operate undetected for a significant period.
By using these mule accounts, the accused not only evaded banking scrutiny but also effectively laundered the stolen funds through the online gaming ecosystem—a method becoming increasingly common among cyber fraudsters.
ED’s Prior Actions and Ongoing Investigation
This is not the first time the ED has acted in this matter. Earlier, the agency had provisionally attached properties worth ₹2.56 crore belonging to Bedanshu and his associates under Section 5 of the PMLA.
Officials say that the investigation is still underway, and more layers of this financial racket are expected to be uncovered. The current findings highlight serious vulnerabilities in the banking sector and the rising misuse of online gaming platforms for money laundering and illegal betting.
