The Enforcement Directorate (ED) has frozen four HSBC bank accounts worth Rs 46.96 crore after it raided places linked to companies involved in running Chinese betting apps, according to an official statement. 15 locations in Delhi, Gurgaon, Mumbai, and Pune were raided on Friday under various sections of the Prevention of Money Laundering Act (PMLA). As per the investigation, Chinese nationals floated multiple Indian companies with the help of some Indian chartered accountants. "Initially dummy Indian directors were used to incorporate the companies and after some time Chinese nationals travelled to India and took directorship in these companies," it said. The case is based on an FIR filed by Telangana Police against the accused early this year.

Source: dna August 30, 2020 04:02 UTC