Two of India’s best-known cricketers are in trouble as the Enforcement Directorate has seized assets worth Rs 11.14 crore of both the cricketers in a money-laundering probe. This will be a huge stain on the reputation of both the cricketers.
The Enforcement Directorate is the investigative organization of the Government of India that deals with cases related to money fraud and financial crimes. The ED is investigating a company called 1xBet, which deals with online gambling and has been the title sponsor of several sports franchises in India.
The agency is investigating the financial transactions, endorsement deals and promotional campaigns of influential and famous personalities to gain knowledge of the flow of money from offshore entities to Indian accounts.
ED finds former Indian cricketers guilty of money laundering
During a similar investigation, for which they had summoned former Indian cricketers Shikhar Dhawan and Suresh Raina to the ED office to interrogate them about the cash from the betting platform, they have found assets worth Rs 11.14 crore belonging to both the cricketers.
As per PTI report, ED officials have attached those reports and linked them to the illicit funds from illegal betting platform 1xBet. A provisional attachment order has already been issued under the Prevention of Money Laundering Act (PMLA).
The order further mentions that this includes Shikhar Dhawan’s immovable property worth Rs 4.5 crore and Suresh Raina’s mutual fund investments worth Rs 6.64 crore.
ED has already questioned several known personalities with links to 1xBet
The report further claims that both these cricketers knowingly entered into the endorsement deal to promote 1xBet and other brands associated with it. The investigation noted that these promotions were linked to entities that were promoting illegal online betting services in the country.
As a part of this investigation, the ED has already questioned several prominent personalities of India, including cricketers Yuvraj Singh and Robin Uthappa, actors Sonu Sood and Urvashi Rautela, and former TMC MP Mimi Chakraborty, who is also a famous Bengali film actress. Bengal actor Ankush Hazra was also questioned in connection with his promotional association with the platform.
What is 1xBet? Know more about the company under ED investigation
1xBet is an online gambling company licensed by the Curacao eGaming License. The company boasts a track record of 18 years in business, as it was founded in 2007 and is headquartered in Cyprus, a Mediterranean island off the coast of Asia.
This platform offers one of the largest online casinos, and according to some reports, it possibly has the largest sportsbook on the planet. They have also been sponsors of major professional teams such as FC Barcelona, Ecuador’s Barcelona SC and Paris Saint-Germain.
Even before the ED investigation, many other countries had already disallowed its operation in their country after investigating the company’s finances. Countries where its use is not allowed include the UK, the United States, France, Russia, and Spain. Additionally, international warrants have been issued for the company’s three founders, one of whom has already died.
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