Pramesh S Jain
The Directorate of Enforcement (ED),Bengaluru Zonal Office,has provisionally attached movable properties worth USD 55.69 million (approximately ₹505 crore) held in Foreign bank accounts in the United States and Singapore as part of an ongoing money laundering investigation.
The attached funds are maintained in the names of overseas shell companies of Winzo Pvt Ltd namely Winzo US Inc and Winzo SG Pte Ltd allegedly operated and controlled by Paavan Nanda and Saumya Singh Rathore.
Earlier,the ED conducted search and seizure operations at the office premises of Winzo Pvt Ltd and the residence of its Director on November 18,2025,and at its accounting firm on December 30, 2025.
According to the ED official press release,evidence gathered during the searches and subsequent investigation revealed that the company allegedly engaged in criminal and unscrupulous practices.
The ED claims that customers were made to participate in real-money games against BOTs/AI-driven algorithms/software (referred to as PPP/EP/Persona) without being informed that they were playing against automated systems rather than human players.
The investigation further alleges that the company restricted or limited withdrawals of funds held in customer wallets,thereby inducing users to continue playing.
Through repeated gameplay under such conditions, users’deposited amounts were allegedly appropriated in the form of “rake commission”charged on each match.
The ED stated that Winzo Pvt Ltd generated“Proceeds of Crime”in the form of rake commission from matches played between BOTs and real players on the Winzo App.
For the financial years 2021–22 to 2025–26 (till August 22, 2025), the agency has quantified the alleged proceeds of crime at Rs.3,522.05 crore.
So far,the ED has frozen movable properties worth approximately Rs.689 crore in the case.
The agency further alleged that part of the direct proceeds of crime was transferred outside India to the US and Singapore under the guise of overseas investments,even though operational control and day-to-day business activities were conducted from India.
With the latest provisional attachment of USD 55.69 million,the total proceeds of crime attached or frozen in the case now stand at approximately Rs.1,194 crore.
A Prosecution Complaint has also been filed before the Special Court under the Prevention of Money Laundering Act (PMLA), Bengaluru (CCH-1), on January 23, 2026. Further investigation is underway.
