ED Arrests Armstrong Exchange Founder Over Alleged Online Betting Scam
Sagar Dash was arrested under the Prevention of Money Laundering Act following investigations into All Panel Exchange. The ED alleges that Dash used shell entities and fabricated documents to route hundreds of crores in illegal proceeds through cooperative society bank accounts and cryptocurrency accounts.
Key points
- Founder Sagar Dash arrested by the ED on October 27.
- Investigation involves an alleged network of mule accounts and shell entities.
- Illegal funds were reportedly routed through the Nagarbhavi Credit Cooperative Society.
- The case stems from FIRs related to online betting and cyber fraud.
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