Hyderabad: ED Raids 8 Properties of Casino Dealers For FEMA Violations
HYDERABAD: The Enforcement Directorate (ED) is carrying out raids on casino dealers and agents in eight locations in Hyderabad for violations of the Foreign Exchange Management Act (FEMA).
As per reports in the Times of India, two agents from Hyderabad named Madhav Reddy and Praveen Chikoti, and few others in Hyderabad were said to be organizing gambling events in Nepal and the ED found several hawala transactions during the searches related to these rackets.
The raids were pertaining to a gambling event held at a place near the Indo-Nepal border in the month of June. The agents had offered a four-day package where the customer paid Rs 3 lakh for flight charges, hotel stay, food, drinks and entertainment where the winner was paid through hawala transactions as per ED reports.The event was also shared in the instagram page of the accused Chikoti Praveen.
They were also allegedly conducting gambling rackets at Hyderabad, Visakhapatnam, Vijayawada, Guntur and Nellore.
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