The Enforcement Directorate (ED) on Friday carried out simultaneous searches at 15 locations across Telangana and Andhra Pradesh, including Hyderabad and Vijayawada, as part of an ongoing money laundering investigation linked to alleged online betting and fraudulent investment applications. The action was taken under the Prevention of Money Laundering Act (PMLA) following a case registered by Pune Cyber Crime Police. Investigators are examining an alleged network accused of luring investors with promises of high returns before collecting hundreds of crores of rupees through illegal online platforms.

The latest searches come after the ED conducted raids in Delhi, Mumbai and Gurugram last week, where officials reportedly recovered documents pointing to links with local agents and suspected hawala operators in the two Telugu states. According to the agency, the investigation is focused on tracing how money generated through betting and fake investment apps was allegedly routed via shell companies and cryptocurrency transactions before being transferred overseas. Officials also examined financial records, digital devices and transaction documents at the residences and offices of suspected key operatives.

During the searches, investigators reportedly recovered cash and documents related to bank accounts and suspected hawala transactions, although the agency has not yet disclosed the exact value of the seizures or the identities of those under investigation. The ED is continuing to trace the money trail, identify the beneficiaries and establish the alleged links between app operators, local agents and financial intermediaries. Officials said the investigation remains ongoing and further action is expected as more evidence is examined.