The Enforcement Directorate (ED) on Friday conducted simultaneous searches at 15 locations across Telangana and Andhra Pradesh, including Hyderabad and Vijayawada, in a money-laundering investigation linked to online betting apps and fraudulent investment applications.
Source: Hyderabad Mail
The agency has registered a case under the Prevention of Money Laundering Act (PMLA). The searches are based on a First Information Report registered at the Pune cybercrime police station in Maharashtra, according to the reports.
Source: The Siasat Daily
An interstate network under the scanner
The investigation focuses on interstate networks that allegedly cheated people of hundreds of crores of rupees — yaani several hundred crore rupees in total — by luring them with promises of profits through online betting platforms and fraudulent investment apps. The allegation is the agency's; no court has pronounced on it.
Friday's searches targeted agents and hawala operators in the two Telugu states, following leads reportedly uncovered during searches conducted in Delhi, Mumbai and Gurugram last week.
Money allegedly moved abroad via shell firms and crypto
The ED has found indications that betting proceeds were transferred abroad through shell companies and cryptocurrencies, according to the information shared with reporters. Officials are examining records, transaction documents and digital devices at the residences and offices of key accused persons.
Large amounts of cash, bank account details and evidence linked to hawala networks have reportedly been found during the searches. Further details of the operation are awaited, and the agency had not issued a detailed public statement at the time of reporting.
Searches: 15 locations in Telangana and Andhra Pradesh, including Hyderabad and Vijayawada, on October 23. Law: PMLA. Base case: FIR at Pune cybercrime police station. Targets: agents and hawala operators. Alleged scale: hundreds of crores of rupees cheated through betting and fake investment apps.
What is solid
- The ED searched 15 locations in Telangana and Andhra Pradesh on Friday in a PMLA case
- The case rests on an FIR registered at the Pune cybercrime police station
- The searches follow related operations in Delhi, Mumbai and Gurugram last week
What is only claimed
- The allegation that interstate networks cheated people of hundreds of crores through betting and fake investment apps
- Reports that cash and hawala-linked evidence were found during Friday's searches — the ED's detailed statement is awaited
Sources: Hyderabad Mail and The Siasat Daily, reporting the ED's search operation on October 23, 2026.