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Rs11.14 Crore Assets of Suresh Raina, Shikhar Dhawan Attached by ED in 1xBet Money-Laundering Case
Moneylife Digital Team 06 November 2025
Economy & Nation
The directorate of enforcement (ED) has provisionally attached assets worth Rs11.14 crore belonging to India's former cricketers Suresh Raina and Shikhar Dhawan under the Prevention of Money Laundering Act (PMLA), 2002, in connection with its investigation into the operations of the illegal offshore betting platform 1xBet. The attachment, the agency says, includes mutual fund investments worth Rs6.64 crore held in the name of Mr Raina and an immovable property valued at Rs4.5 crore registered to Mr Dhawan.
 
The agency says the move follows multiple first information reports (FIRs) registered by police in several states against 1xBet and its surrogate brands, 1xBat and 1xBat Sporting Lines, for allegedly promoting and facilitating online betting and gambling operations in violation of Indian law.
 
“Investigation revealed that both Suresh Raina and Shikhar Dhawan knowingly entered into endorsement agreements with foreign entities for the promotion of 1xBet through its surrogates,” ED says in a release. The agency alleged that payments for these endorsements were made through foreign entities to conceal the illicit origin of funds that were linked to proceeds of crime generated from illegal betting activities.
 
According to ED, 1xBet operated without authorisation in India, promoting its betting platform through social media, print and digital advertising campaigns aimed at Indian users. To disguise the source of illicit funds, money was routed through multiple offshore accounts and layered across various corporate entities to create a complex web of financial transactions. “These transactions were structured to obscure the connection between the betting proceeds and payments made to brand ambassadors and endorsers,” the agency says.
 
During the course of the investigation, ED traced a laundering trail exceeding Rs1,000 crore. It found that over 6,000 so-called 'mule' bank accounts were used to collect money from Indian bettors, which was then channelled through numerous payment gateways and intermediaries. Officials said many of these merchants were onboarded without mandatory know-your-customer (KYC) checks, and their stated business activities did not align with transaction volumes. “This network of mule accounts was created to evade detection and enable large-scale illegal betting transactions,” the agency noted.
 
Searches were conducted at four payment gateways, leading to the seizure of incriminating digital evidence and business records. ED has so far frozen more than 60 bank accounts linked to the operations, blocking funds exceeding Rs4 crore. Officials said the attachments against the two former cricketers are provisional and subject to adjudication under PMLA procedures.
 
The agency’s investigation has widened to examine the role of multiple individuals and entities allegedly engaged in promoting the 1xBet brand in India. The platform, registered in Cyprus, has previously been flagged by several enforcement and cybercrime agencies for targeting Indian users despite a ban on online betting. ED officials believe that surrogate advertising through celebrity endorsements helped lend legitimacy to the unlawful operations, encouraging unsuspecting users to deposit money on offshore sites.
 
Issuing a public advisory, ED warned that participation in or promotion of online betting and gambling platforms is a punishable offence under the PMLA. “Individuals involved in promoting or facilitating such activities are liable for prosecution, which carries imprisonment of up to seven years and attachment of assets derived from proceeds of crime,” the agency stated. It urged citizens to avoid engaging with or endorsing unregulated betting platforms that operate in violation of Indian law.
 
While neither Mr Raina nor Mr Dhawan has made a public statement following ED’s action, the agency may conduct further questioning to establish their knowledge of the betting operations behind the brand endorsements. The probe, ED says is part of a broader crackdown on illegal offshore betting networks that have proliferated through surrogate advertising and social media campaigns targeting Indian audiences.
 
“The investigation continues to uncover the financial ecosystem enabling such illegal activities,” ED added. “Further action under PMLA is being taken to trace and confiscate proceeds of crime and identify all beneficiaries involved.”
 
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