Hyderabad, 23 October (H.S.): The Enforcement Directorate (ED) on Friday conducted simultaneous searches at 15 locations in Telangana and Andhra Pradesh, including Hyderabad and Vijayawada, as part of a money laundering investigation into alleged online betting operations and fraudulent investment app networks.

The searches were carried out under the Prevention of Money Laundering Act (PMLA) in connection with an FIR registered by the Pune Cyber Crime police in Maharashtra. Investigators are probing alleged inter-state networks accused of enticing people with promises of high returns and collecting hundreds of crores of rupees.

The action in the two Telugu states followed searches conducted by the ED last week in Delhi, Mumbai and Gurugram. Investigators reportedly found documents indicating possible links with agents and suspected hawala operators in Telangana and Andhra Pradesh.

The agency is examining allegations that proceeds generated through online betting and fraudulent investment platforms were routed through shell companies and cryptocurrency transactions before being transferred overseas.

During Friday's searches, ED officials examined records, financial transaction documents and digital devices at the residences and offices of suspected key operatives. The searches were aimed at tracing the alleged money trail, identifying beneficiaries and establishing possible links among app operators, local agents and hawala networks.

There were reports of cash and documents relating to bank accounts and suspected hawala transactions being recovered during the searches. However, details of the alleged seizures and the identities of those under investigation were not immediately available.

Further investigation is under way.

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Hindusthan Samachar / Indrani Sarkar