ED attaches properties worth Rs. 4.62 crores in Fairplay app case

New Delhi, December 30

Directorate of Enforcement (ED) has provisionally attached assets worth Rs.4.62 crores under Prevention of Money Laundering Act (PMLA),2002 as part of the ongoing probe in the case of “Fairplay” which was involved in illegal broadcasting of cricket/IPL matches and various online betting activities. 

The officials added that the assets include movable assets in the form of Demat Account holdings, Mutual fund investments and a luxury vehicle (Audi Q8). ED initiated investigation on the basis of FIR registered by M/s. Viacom18 Media Pvt Limited with Nodal Cyber Police, Mumbai against M/s. Fairplay Sport LLC and othersunder various sections of IPC, 1860, Information Technology Act, 2000 and Copyright Act, 1957 for causing loss of revenue of more than Rs.100 Crore (Proceeds of Crime).

ED investigation revealed that Krish Laxmichand Shah (the key person behind the Fairplay ) has registered various companies such as M/s.Play Ventures N.V & M/s.Dutch Antilles Management N.V at Curacao, Fair Play Sport LLC& M/s.Fairplay Management DMCC at Dubai and M/s.Play Ventures Holding Limited at Malta for the operations of Fairplay. 

ED investigation revealed that Fairplay is primarily being operated by Krish L Shah from Dubai with the help of his associates such as Chirag Shah & Chintan Shah looking after technologicaland software development aspects of Fairplay. Investigation revealed that KrishL Shah and his associates have acquired various movable and immovable assets from Proceeds of Crime either in their names or in the name of their relatives/family members. 

Earlier, ED has conducted search operations in this case resulting in seizure/freezing of various movable assets along with various other incriminating documents & digital devicesand EDalso issued a Provisional Attachment Order in this case. The total attachment &seizure in this case till date amounts to Rs. 335.78 crores, officials further added.