Mumbai: The Enforcement Directorate (ED) on Wednesday conducted search operations at seven locations across Delhi, Mumbai, and Bengaluru in connection with a money laundering probe linked to alleged bank fraud and online gaming platforms.
The searches were carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as part of an ongoing investigation against Bedanshu Shekhar Mishra, a former Punjab & Sind Bank officer, and key individuals associated with the online gaming platform Goa247.live.
During the searches officials seized Rs 39 lakh in cash along with multiple digital devices, mobile phones, SIM cards, and other incriminating materials allegedly used for online gaming-related activities. The agency also froze Rs 1.5 crore held in 48 mule accounts reportedly used by the gaming platform to channel illicit funds.
According to the ED, Mishra, a former officer at Punjab & Sind Bank’s Khalsa College Branch in Delhi University’s North Campus, is at the centre of a high-value bank fraud and money laundering probe by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).
The case came to light following an FIR registered by the CBI’s Anti-Corruption Branch in New Delhi. Mishra is accused of fraudulently liquidating 46 fixed deposit accounts, including those belonging to institutions such as Sri Guru Tegh Bahadur (SGTB) Khalsa College. The ED stated that he used his own system ID as well as the credentials of other staff members to carry out unauthorized transactions.
He was suspended in November 2022 after the bank discovered the irregularities. According to the ED, Mishra allegedly committed fraud and forgery amounting to Rs 52.99 crore, cheating both the bank and several account holders.
Mishra reportedly spent the misappropriated funds on online games like Monopoly, Poker, Teen Patti, and others, played on various platforms, including Goa247.live, Indibet.com, and betway.
According to the ED, Mishra transferred a significant portion of these proceeds around Rs 24 crore to online gaming platforms, including Goa247.live, through multiple mule accounts arranged by individuals associated with the online gaming platform. These mule accounts were allegedly created to mask the source and movement of illicit funds.
The agency pointed out that Mishra arranged these transfers to accounts owned by gaming company proprietors in exchange for a commission.
As part of the probe, the ED has earlier provisionally attached movable and immovable assets worth Rs 2.56 crore belonging to Mishra and his associates under the Prevention of Money Laundering Act (PMLA), 2002.
