“Magicwin Betting Racket Unveiled: Links to Pakistan, Celeb Endorsements, and Cross-Border Money Transfers”
December 19, 2024: A betting app racket under investigation by the Enforcement Directorate (ED) has been linked to a Pakistan national, marking the first time such a connection has surfaced in the Magicwin app case, according to sources. The investigation revealed that money from India was funnelled to Pakistan via Dubai, adding a cross-border dimension to the scandal.
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Promoted on social media by actors and celebrities from both Bollywood and television, Magicwin posed as a gaming platform but was allegedly operating as a betting website. Celebrities Mallika Sherawat and Pooja Banerjee have already been questioned by the ED, and at least seven more stars are expected to be summoned in the coming days.
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How the Scam Operated
Magicwin is reportedly run by Indian nationals based in Dubai, with the betting games hosted in countries like the Philippines where gambling is legal. Investigators revealed that the platform’s API was copied from other sources and rebroadcast on Magicwin. It relied heavily on social media promotion in India to attract users.
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The ED has conducted an extensive probe, including 67 raids across India in the past six months. Last week, the agency searched 21 locations linked to the Magicwin case in Delhi, Mumbai, and Pune, seizing assets worth approximately ₹3.55 crore.
Money Laundering Trail
The racket reportedly used payment gateways and shell companies to transfer betting winnings into users’ bank accounts. Additionally, funds were distributed via domestic money transfer (DMT) channels.
An FIR filed by Ahmedabad police served as the catalyst for the ED’s investigation. The probe has since unveiled connections to Dubai and Pakistan, raising questions about the extent of cross-border financial crimes tied to online betting.
Tags:
betting app scam, Magicwin betting racket, Pakistan-India money laundering, celebrity endorsements controversy, Bollywood under ED probe, cross-border financial crimes, ED raids on betting apps, online gambling fraud, Indian celebrities questioned by ED, Mallika Sherawat Magicwin case,
