Chinese gambling and money laundering racket: CCS Hyderabad files chargesheet against 8 Chinese nationals and 14 Indians

The gambling and money laundering racket which was unearthed by Hyderabad Police and Central Crime Station, Hyderabad following months of investigation resulted into filing of charge-sheet.

The Central Crime Station, Hyderabad charge-sheeted total 22 persons which included 8 Chinese nationals and 14 Indian persons.

The Indian operators used to help Chinese nationals in becoming directors of various companies, establishing and networking in India.

The police have also charged 40 gambling sites, betting sites, porn sites which were part of this network and cheated Indian customers with atleast 2000 Crore Rupees.

The issue dates back to August and September where 2 victims had filed FIRs against online gambling application for having cheated them of money.

This resulted into arrest of a Chinese national, Yah Hao, Head of South East Asia Operations, Beijing T Company and 4 of his Indian counterparts. The arrested persons are still in judicial custody.

Following the FIR, Enforcement Directorate had raided several locations over suspicions of money laundering racket by Chinese gambling applications and had seized various bank accounts worth Rupees 46 crores.

Upon investigation, it was revealed that the fraudulent Chinese gambling apps manipulate the results to 30:70 ratio, where 70% of the gamblers lose the money. The police attached electronic evidences which reflect fraudulent gambling operations.

One of the officials stated that, “Though this case has multiple dimensions, we have filed the preliminary charge sheet only on three counts organizing betting, money circulation and cheating. As and when we get more evidence on various aspects, supplementary chargesheet will be filed in the case”, reported Times of India.

Accused persons have been booked under Prize Chits and Money Circulation Schemes Act, Gaming Act and section 420 of the Indian Penal Code.

 

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