The Enforcement Directorate (ED) has arrested four individuals under the Prevention of Money Laundering Act (PMLA) in connection with an online betting and gaming fraud. The accused—Arun Sahu, Alok Sahu, Chetan Prakash, and Joseph Stalin—were detained following an investigation tied to an FIR lodged by the Cossipore Police Station in Kolkata, which alleged cheating and conspiracy through the app “Fiewin.”
The ED’s probe revealed that Chinese nationals operated the app with the aid of Indian accomplices. Funds collected from gamers were funneled into various bank accounts, known as “recharge persons,” who received commissions for allowing their accounts to be used.
Arun and Alok Sahu, from Rourkela, Odisha, acted as “recharge persons,” converting funds from the app into cryptocurrency, which was then laundered through Binance wallets controlled by Chinese nationals.
Chetan Prakash, an engineer from Patna, Bihar, played a key role in money laundering by helping convert INR into cryptocurrency (USD). Joseph Stalin, a software engineer from Chennai, facilitated Chinese national Pie Pengyun in becoming a co-director of Studio 21 Pvt Ltd, a company used for bulk payouts to gain user trust and encourage larger bets.
Stalin allegedly received funds for payouts in cryptocurrency from Binance wallets managed by Chinese handlers and converted the USDT cryptocurrency into INR through P2P transactions on foreign exchanges. The ED investigation revealed that about ₹400 crore was generated from the Fiewin app fraud and transferred to eight Binance wallets operated from mainland China, as shown by IP logs. The accused communicated with Chinese handlers via digital platforms like Telegram.
The four individuals were presented before the Special Court (PMLA), which granted the ED custody for 14 days. The investigation is ongoing. The Enforcement Directorate (ED) has arrested four individuals under the Prevention of Money Laundering Act (PMLA) in connection with an online betting and gaming fraud. The accused—Arun Sahu, Alok Sahu, Chetan Prakash, and Joseph Stalin—were detained following an investigation tied to an FIR lodged by the Cossipore Police Station in Kolkata, which alleged cheating and conspiracy through the app “Fiewin.”
The ED’s probe revealed that Chinese nationals operated the app with the aid of Indian accomplices. Funds collected from gamers were funneled into various bank accounts, known as “recharge persons,” who received commissions for allowing their accounts to be used.
Arun and Alok Sahu, from Rourkela, Odisha, acted as “recharge persons,” converting funds from the app into cryptocurrency, which was then laundered through Binance wallets controlled by Chinese nationals.
Chetan Prakash, an engineer from Patna, Bihar, played a key role in money laundering by helping convert INR into cryptocurrency (USD). Joseph Stalin, a software engineer from Chennai, facilitated Chinese national Pie Pengyun in becoming a co-director of Studio 21 Pvt Ltd, a company used for bulk payouts to gain user trust and encourage larger bets.
Stalin allegedly received funds for payouts in cryptocurrency from Binance wallets managed by Chinese handlers and converted the USDT cryptocurrency into INR through P2P transactions on foreign exchanges. The ED investigation revealed that about ₹400 crore was generated from the Fiewin app fraud and transferred to eight Binance wallets operated from mainland China, as shown by IP logs. The accused communicated with Chinese handlers via digital platforms like Telegram.
The four individuals were presented before the Special Court (PMLA), which granted the ED custody for 14 days. The investigation is ongoing.
