Key Moments:
- The Enforcement Directorate seized $253,350 in cash, $14,000, and foreign currencies valued at about $95,75, along with USDT cryptocurrency exceeding $1,013,400.
- The investigation uncovered illicit forex trading, chip-for-currency exchanges, and foreign currency payouts in violation of FEMA, 1999.
- Authorities conducted a targeted raid on September 26, 2025, leading to further seizures of currencies and evidence of unauthorized financial transactions.
Nationwide Searches Disrupt alleged Illegal Gambling Network
India’s Enforcement Directorate (ED) has executed a broad investigation into a suspected illegal casino and gambling network, with coordinated raids taking place in Goa, Delhi-NCR, Mumbai, and Rajkot. According to officials, these actions uncovered a sizeable amount of cash, various foreign currencies, and digital assets, exposing an intricate scheme involving unlawful foreign exchange dealings and online betting ventures tied to casino activities.
Asset Seizures and Uncovered Methods
Authorities reported the confiscation of $253,350 in cash, $14,000, and foreign currencies valued at approximately $95,75. Investigators also took hold of cryptocurrencies, specifically over $1,013,400 in USDT. The findings suggest an underground network involved in laundering funds by leveraging casino operations.
Investigations revealed the network had been converting poker chips into foreign currencies and distributing gambling winnings in foreign exchange. Such operations contravened the Foreign Exchange Management Act (FEMA) of 1999.
Digital Platforms Linked to Casino Activities
Officials stated that the investigation discovered casino employees promoting several unapproved online gambling portals, including rolex777.co, iCasino247.com, play247s.com, Win Daddy, and Poker Daddy. These platforms are said to operate as digital arms of the unlawful casino activities, encouraging participants to engage in unregulated betting.
Notable Raid in Goa and Discovery of Financial Evidence
A separate and focused operation was launched by the ED’s Panaji Zonal Office on September 26, 2025, at the “Loja Shamu” shop located in the Mapusa Municipal Market, Goa. This followed an alert from Goa Airport Customs, who earlier stopped a traveler carrying $35,000 in foreign exchange.
During the shop search, authorities seized foreign currency equal to $33,780, Indian currency amounting to $146,380, two mobile devices, and documentation of financial transactions. Their initial examination indicated exchanges and communication related to illegal forex trades, with the estimated value of the forex dealings ranging from $225,200 to $338,100.
| Location | Assets Seized | Estimated Value |
|---|---|---|
| Multiple Cities | Cash, foreign currency, cryptocurrencies | $253,350 cash, $14,000, $95,75 foreign currency, $1,013,400 USDT |
| “Loja Shamu”, Goa | Foreign & Indian currency, mobile phones, transaction records | $33,780 foreign currency, ₹146,380 Indian currency, forex dealings between $225,200 and $338,100 |
Evidence Points to Coordinated Money Movement
An Enforcement Directorate official claimed the seized evidence demonstrates a continual pattern of illegal forex trading, breaching FEMA provisions. Analytical work on the confiscated digital material is now in progress to map out all individuals and entities involved.
Investigators suspect a strong link between gambling and unauthorized forex operations, with funds reportedly channeled via hawala and digital currencies to mask their origin. Possible ties to offshore gambling operators are also under review.
Intensified Oversight of Goa’s Casino Sector
The casino industry in Goa has historically been under regulatory watch. The latest enforcement activity marks a notable intervention aimed at curtailing illegal online gambling and enforcing adherence to FEMA guidelines. The investigation remains ongoing as authorities dig deeper into both local and international connections in the developing case.
- Author
Daniel Williams
