ED Unveils Rs 400 Crore Fraud in Indian Online Gaming App 'Fiewin'

The Enforcement Directorate filed a chargesheet against the 'Fiewin' gaming app operated by Chinese nationals, highlighting a Rs 400 crore fraud in India. Operators transacted illegal proceeds via cryptocurrency and disguised them as business income, often using Indian nationals as intermediaries.

The Enforcement Directorate (ED) has recently filed a new chargesheet implicating the 'Fiewin' gaming app for orchestrating a staggering Rs 400 crore fraud in India. The app, operated by Chinese nationals during the Covid-19 pandemic, exploited players by encouraging them with promises of quick money.

According to the chargesheet, the gaming app deceived users with simple games based purely on luck, while secretly amassing vast sums through fraudulent means. The ED highlighted that the app's operations spanned from its inception in 2020 until June 2023. The asset trail, disguised as business income, concealed the true source of funds.

The ED has named two individuals and 12 companies under charges, detailing how the app's operators used Indian nationals to process funds through cryptocurrency, sending these to Binance wallets held by Chinese nationals. Connections and instructions were primarily managed via Telegram groups, tracing back to an initial FIR filed in Kolkata.