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ED freezes Rs 505 Cr of Winzo funds parked in US and Singapore

EntrackrEntrackr · 2d ago
ED freezes Rs 505 Cr of Winzo funds parked in US and Singapore
Medial

url: https://entrackr.com/news/ed-freezes-rs-505-cr-of-winzo-funds-parked-in-us-and-singapore-11132413. Content: The Enforcement Directorate (ED) has escalated its action against real-money gaming platform Winzo, provisionally attaching overseas bank balances worth Rs 505 crore as part of its ongoing money laundering probe. According to a press release dated February 18, 2026, the ED’s Bengaluru Zonal Office has attached movable properties amounting to $55.69 million (approximately Rs 505 crore) held in bank accounts in the United States and Singapore. The accounts are maintained in the names of Winzo’s overseas entities, Winzo US Inc. and Winzo SG Pte. Ltd., which the agency alleges are operated and controlled by the company’s founders. The agency had earlier conducted search and seizure operations at Winzo’s office premises on November 18, 2025, followed by searches at its accounting firm on December 30, 2025. Subsequently, a prosecution complaint was filed before the Special Court under the Prevention of Money Laundering Act (PMLA) in Bengaluru on January 23, 2026. The ED has alleged that Winzo engaged in “unscrupulous practices,” including allowing users to play real-money games against bots, AI systems, or algorithms without disclosure. It further claims that the company restricted or limited customer withdrawals and generated “rake commission” from matches played between bots and real users. According to the agency, Winzo derived alleged proceeds of crime worth Rs 3,522.05 crore between FY22 and August 22, 2025. A portion of these funds, the ED said, was routed overseas under the guise of investments. With the latest attachment, the total proceeds of crime attached or frozen in the case now stand at around Rs 1,194 crore. The investigation remains ongoing, and further action could follow as scrutiny on the real-money gaming sector intensifies.

ED freezes Rs 192 Cr linked to WinZO subsidiary in money laundering probe

EntrackrEntrackr · 1m ago
ED freezes Rs 192 Cr linked to WinZO subsidiary in money laundering probe
Medial

News All Stories ED freezes Rs 192 Cr linked to WinZO subsidiary in money laundering probe Last month, ED arrested WinZO co-founders Paavan Nanda and Saumya Singh Rathore after search and seizure operations at company premises and residences. Shashank Pathak 01 Jan 2026 20:46 IST Follow Us The Directorate of Enforcement has frozen assets worth around Rs 192 crore classified as Proceeds of Crime (POC) belonging to Zo Games Pvt Ltd, a wholly owned Indian subsidiary of WinZO Pvt Ltd, after conducting a search operation under the Prevention of Money Laundering Act. The assets were frozen in the form of bank balances, fixed deposits, and mutual funds, the ED said in a press release. The agency stated that evidence pointed to deceptive gaming practices on the WinZO platform, where users were made to play real money games against bots and algorithm-driven personas without disclosure. The probe also found that withdrawals of user funds were restricted or prevented in certain cases. So far, the ED has identified total Proceeds of Crime of around Rs 802 crore in the case. Earlier, in November 2025, the ED arrested WinZO co-founders Paavan Nanda and Saumya Singh Rathore after search and seizure operations at company premises and residences. These actions followed the freeze of assets worth over Rs 505 crore under the PMLA. The assets included bank balances, fixed deposits, mutual funds, and other financial instruments linked to the company and its related entities. The investigation is based on multiple FIRs and hundreds of user complaints that allege manipulation of gameplay, misuse of customer data, non-refund of user funds, and continuation of real money gaming activities despite regulatory restrictions. Investigators said user funds remained with the platform even after restrictions on real money gaming came into force. The ED has also flagged overseas fund movements, with part of the alleged Proceeds of Crime routed to the US and Singapore as overseas investments. Funds worth $54 million were found parked in a US bank account held by WINZO US Inc. The WinZO case forms part of a wider enforcement phase in 2025. During the year, the ED initiated action against startup-origin companies such as Dream11, Gameskraft, Probo, Paytm, Myntra, Simpl, and OctaFX under money laundering, FEMA, and foreign-exchange related probes.

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