ED alleges Pune fintech in ₹800-crore money trail

ED investigation alleges Pune-based fintech Edsom Fintech Pvt. Ltd. laundered hundreds of crores from ALL PANEL EXCHANGE online betting fraud.

Funds were routed through shell entities, converted into cryptocurrency, and transferred to offshore entities.

ED uncovered an Rs 800-crore money trail through a credit cooperative society's bank account linked to illegal betting proceeds.

Searches conducted in Mumbai, Pune, and Bengaluru under PMLA; incriminating documents and digital devices seized.

Fraud operated by contacting users via WhatsApp, allowing small withdrawals to build trust, then blocking withdrawals after larger investments.