ED attaches assets worth Rs 409 crore to lottery firm Future Gaming

The Law Enforcement Branch has seized the assets of lottery company Future Gaming & Hotel Services Private Limited and its various sub-distributors worth over Rs 409 crore in a money laundering case ,

The Enforcement Branch seized the assets of lottery company Future Gaming & Hotel Services Private Limited and others in a money laundering case. (File photo)

The Enforcement Directorate has seized assets worth Rs 409.92 crore in a money laundering case against lottery company Future Gaming & Hotel Services Private Limited and its various sub-distributors, said officials. The attached assets come in the form of balances in bank accounts and mutual funds.

ED has opened a money laundering investigation against Future Gaming, its sub-distributors and regional distributors based on the FIRs registered by the Kolkata Police.

Future Games and Hotel Services Pvt. ltd. is the only paper lottery distributor organized by the states of Sikkim and Nagaland that operates the popular “Dear Lottery”.

ED alleged that Future Gaming & Hotel Services Pvt. Ltd., its various sub-distributors and regional distributors criminally conspired and illegally retained unsold lottery tickets and claimed top prizes on those unsold tickets during the pre-TPS period through 2017.

“Furthermore, proceeds from the sale of lottery tickets have been illegally diverted to giveaways and inducements by changing the prize structure of lotteries without any approval from state governments.

In this manner, Future Gaming and its sub-distributors illegally claimed approximately Rs 400 crore between 2014 and 2017,” ED said in a statement.

The ED has identified and attached the entire proceeds of crime.

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