Indore, Dec 23 || The ED filed a charge sheet in a Special Court (PMLA) in Indore, Madhya Pradesh, against a syndicate engaged in illegal ‘dabba’ trading and online betting activities involving Rs 404.46 crore and operating across Indore, Mumbai, Ahmedabad, Chennai and Dubai, an official said on Tuesday.
‘Dabba’ trading is an illegal and unregulated form of trading where transactions in securities or commodities occur outside of officially recognised stock exchanges.
The investigation has revealed the existence of a technologically manipulated ecosystem involving rigged trading platforms, unlawful betting websites and a cross-border laundering mechanism, the Directorate of Enforcement, Headquarters, said in the charge sheet on cheating and financial offences filed on Monday.
The probe agency said that Vishal Agnihotri has been identified as the principal operator, assisted by Tarun Shrivastava, who handled the day-to-day financial operations and mule accounts, and Srinivasan Ramasamy, who configured and manipulated MT5 servers designed to generate false trading outcomes.