At least 81 of the Indian companies have been under the ED lens and some of them are from the city of Hyderabad. All of them have come under the scanner of the Enforcement Directorate for their alleged money transactions with many of the Chinese companies who have been accused of cheating as they have done it in the name of betting apps.
This has been said according to sources in the ED who have further added that the focus of the investigators is currently on the companies that are mostly based out of Delhi and Mumbai. A few of those companies are also based out of Hyderabad and they are also under the lens of ED. An amount of Rs. 47 crore have been frozen by ED from the bank accounts of various Chinese companies that have been running at least 94 of the online betting websites and apps.
According to a senior official from the ED, transactions have been made that are worth Rs. 1268 crore and this has taken place between two Chinese companies along with their subsidiaries as well as around 81 Indian companies.
A collection of over Rs. 1000 crore has been seen by the accounts.
There are several sleuths of Ed in Hyderabad who have been probing the case and have booked the companies under the Prevention of Money Laundering Act, while the central crime station in Hyderabad has booked them under the cheating case.
According to two bank accounts of the company Dokypay Technology Private Limited, it has been revealed that the account has seen a steep rise in the collection by an amount of Rs. 1,268 crore and out of that amount, Rs. 300 crore came through the payment gateway of Paytm and almost Rs 600 crore of them has been transferred out through the payment gateway of Paytm.
According to an account analysis done by the company Linkyun Technology, it has revealed that there is a similar pattern in it. It has also been revealed by the probe done by ED that there have been outward foreign remittances done for the payment from these accounts that is to the extent of Rs. 120.
According to the sources in the media, there have been a large amount of unexplained financial transactions that can also be seen with various other Indian companies who have been running all these online Chinese dating apps for the customers in India.
The CEO of Dokypay Technology, Yang Ming, who said that as one of the providers of technical services at the level where the merchant access takes place the necessary risk control audit system has been conducted by them for all merchants. Both parties have signed the service agreement where it is written that the merchant promises and declares that its business is going to meet the requirements of the local regulations and laws. Dokypay said that the organization will not participate in illegal trade.