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New Delhi: The Enforcement Directorate (ED) has taken significant action against the online gaming application FIEWIN, freezing approximately ₹25 crore in funds. This step comes amid allegations that the app has been involved in anti-India activities for an extended period. The investigation revealed that around ₹400 crore has been transferred from India to China through this gaming platform, raising serious concerns about money laundering and financial misconduct.
Recently, the ED conducted multiple raids across various locations in Kolkata targeting the FIEWIN gaming app. During these operations, several Indian nationals were apprehended. Interrogations of these suspects led to shocking revelations about how the app facilitated the transfer of ₹400 crore to China. In connection with online betting and gaming fraud, four individuals have been arrested. A formal case was registered on May 16, 2023, at the Kosi-pur police station under sections 420, 406, and 120B of the Indian Penal Code.
The investigation has shown that Chinese nationals have been running the FIEWIN app with the assistance of Indian citizens. Funds collected from online gamers were funneled into various bank accounts belonging to individuals known as “recharge persons.” In exchange for their services, the app owners provided commissions to these individuals. Notably, Arun Sahu and Alok Sahu, residents of Rourkela, Odisha, were identified as key players in facilitating these transactions. Money deposited into their bank accounts was converted into cryptocurrency, which was then laundered.
Role of Engineer in Money Laundering Scheme
Chetan Prakash, an engineer based in Patna, played a crucial role in this money laundering operation by assisting individuals in converting Indian currency to cryptocurrency (USDT). Another individual, Joseph Stalin, helped a Chinese national, Pai Pengyun, become a co-director of his company, Studio 21 Private Limited. Joseph, a software engineer from Chennai, leveraged this position to facilitate significant payments associated with the app.
Pai Pengyun utilized the bank account of Studio 21 to gain the trust of gamers, encouraging them to place larger bets. Subsequently, payments controlled by Joseph Stalin’s Chinese operators were converted into cryptocurrency and transferred to their Binance accounts. The laundered funds were then exchanged back into Indian Rupees via the peer-to-peer (P2P) mode on Binance.
The ongoing ED investigation has uncovered that approximately ₹400 crore was defrauded through this app-based scheme, with the funds deposited into eight Binance wallets registered under Chinese nationals. Access logs indicate that these wallets are being operated from China. Communication between the Chinese nationals and Indian facilitators, including Arun Sahu, Alok Sahu, Chetan Prakash, and Joseph Stalin, occurred primarily through Telegram, highlighting their active involvement in this scheme. All four individuals have been arrested, and the investigation continues to unfold as authorities work to untangle this complex web of fraud.
The crackdown on the FIEWIN app underscores the seriousness of financial crimes in the online gaming sector and the need for stringent measures to protect the integrity of financial systems.
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