Through this NBFC, the betting platform allegedly laundered more than Rs4,500 crore, with a significant portion coming from non-whitelisted entities.
The NBFC has emerged as the central element in the money laundering activities linked to FairPlay. The company allegedly crafted complex mechanisms to layer illicit funds, routing them through numerous dummy bank accounts and entities across India to overseas destinations.
The NBFC was used to handle user transactions, managing deposits through discreet escrow accounts while processing payouts via virtual bank accounts linked to shell entities. These shell entities were key in creating a complex financial structure, which effectively masked the direct association between FairPlay and the suspected transactions.
Diese Geschichte stammt aus der December 19, 2024-Ausgabe von The Free Press Journal.
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Diese Geschichte stammt aus der December 19, 2024-Ausgabe von The Free Press Journal.
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