In a significant action under the Foreign Exchange Management Act, the Enforcement Directorate (ED) conducted raids in Goa, Delhi-NCR, Mumbai, and Rajkot. This operation, which occurred on September 28th and 29th, involved searches at 15 premises associated with Golden Globe Hotels Private Limited, Worldwide Resorts and Entertainment Private Limited, and the prominent Big Daddy Casino in Goa.
The ED seized approximately 2.25 crore rupees in Indian currency, 14,000 US dollars, and other foreign currencies totaling 8.50 lakh rupees. Cryptocurrency holdings, including USDT, exceeding 90 lakh rupees were also frozen. The ED collected numerous incriminating documents and digital evidence during the raids.
**Casino Operations: Foreign Currency and Poker Chips**
Investigations showed that the casino exchanged poker chips for foreign currency. Winnings were subsequently disbursed in foreign currencies as per customer preferences. Furthermore, Golden Globe Hotels employees actively promoted online gambling sites like rolex777.co, iCasino247.com, play247s.com, Win Daddy, and Poker Daddy.
**Crypto and Hawala Network: A Detailed Look**
The investigation revealed that the crypto wallets of poker players were used to facilitate financial transactions. The ED discovered that USDT was being transferred to Dubai and other international locations through Hawala channels. This network utilized mule accounts to receive and transfer winnings.
**Ongoing ED Investigation**
The ED highlighted that the gathered documents and digital evidence clearly indicate FEMA violations and a sophisticated cross-border Hawala-crypto transaction network. The agency stated that the investigation is ongoing and additional findings may emerge.
