Sagar Dash Arrested by ED in Connection With Online Gaming and Betting

Mumbai: Directorate of Enforcement (ED), Mumbai Zonal Office II, has arrested Sagar Dash on 27.10.2026 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with an ongoing investigation relating to an online gaming/betting scam operated through All Panel Exchange (APX) and related cyber-fraud activities. Activist Santosh Gholap has also filed complaints and researched and investigated informations regarding the multi-crore betting, cyber fraud, illegal betting, casino gaming and matka online network run by Samundar Singh Rathod, his associates Mukesh Jain, Ram Ramdhani and Sagar Dash.

The Special Court (PMLA), Mumbai, has remanded Sagar Dash to ED custody for 03 days.

ED investigation was initiated on the basis of 03 FIRs registered, regarding online gaming/betting and cyber frauds in which the complainants were defrauded and suffered losses of crores of rupees. The investigation has revealed that the funds were routed through multiple mule accounts through the Jubilee Hills Mercantile Cooperative Bank, Hyderabad and subsequently transferred to various shell entities. Further analysis revealed that significant amounts from these shell entities were transferred into the nodal account of Nagarbhavi Credit Cooperative Society, Bengaluru, maintained on behalf of an entity called Armstrong Exchange Pvt. Ltd. established by Sagar Dash.

Samundar Singh Rathod, Mukesh Jain are the masterminds of the network while Dash and Ramdhani are their associates doing some part of hawala, crypto and Cyber farud networks.

Investigation has revealed that Nagarbhavi Credit Cooperative Society’s KYC and fabricated documents were used by Sagar Dash to open crypto account. He routed an approximate amount of hundreds of crores through the said cooperative society’s bank account and substantial amount of the same was found to be directly linked to the Proceeds of Crime generated out of illegal gaming/betting platforms through cyber scams by luring innocent victims. In the said case, earlier, ED had conducted searches at multiple places across Pune, Mumbai, Bengaluru, Hyderabad, Surat, and Mehsana (Gujarat) which led to seizures of incriminating documents and freezing of approx. 9 Cr. amounts lying multiple bank accounts and arrested.

The Enforcement Directorate remains steadfast in its mission to trace and dismantle illicit financial networks and ensure strict enforcement of the PMLA, 2002. Further investigation is under progress.

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