Gameskraft Founders Arrested in ₹1,000 Crore Betting Scam Investigation
Gameskraft Arrests: All you need to know about the alleged Rs 1,000-crore betting scam
The Economic TimesImage: The Economic Times
The Enforcement Directorate (ED) has arrested three founders of Gameskraft Technologies, a Bengaluru-based real-money gaming startup, in connection with a ₹1,000 crore betting scam. The arrests follow allegations of fraud and money laundering linked to the company's gaming platforms, leading to significant user losses and a government ban on operations.
- 01Three founders arrested under the Prevention of Money Laundering Act (PMLA).
- 02Gameskraft Technologies faced multiple FIRs alleging fraud worth ₹1,000 crore.
- 03The company's revenue surged to ₹3,475 crore in FY24 before operations were halted.
- 04Allegations include manipulated game outcomes and restricted user withdrawals.
- 05ED previously froze assets worth ₹523 crore linked to Gameskraft in a separate investigation.
Advertisement
In-Article Ad
On Friday, the Enforcement Directorate (ED) arrested three founders of Gameskraft Technologies — Deepak Singh, Prithvi Raj Singh, and Vikas Taneja — as part of an investigation into a ₹1,000 crore betting scam. The arrests were made under the Prevention of Money Laundering Act (PMLA) following searches in Karnataka and the National Capital Region on May 7. The case involves multiple FIRs alleging cheating and fraud linked to Gameskraft's real-money gaming platforms, including RummyCulture and Pocket52. The company, founded in June 2017, reportedly generated ₹3,475 crore in revenue in FY24 but ceased operations after a government ban on such platforms last August, resulting in massive layoffs. Allegations against the company include manipulation of game outcomes and restricting user withdrawals, with some users reportedly suffering significant financial losses. The ED has seized incriminating evidence during its investigation, including documents and electronic devices. This investigation is separate from an earlier probe that led to the freezing of assets worth ₹523 crore linked to Gameskraft and another platform, WinZO.
Advertisement
In-Article Ad
The arrests and ongoing investigation could lead to increased scrutiny of online gaming platforms in India, affecting users and the gaming industry.
Advertisement
In-Article Ad
Reader Poll
Should stricter regulations be imposed on online gaming platforms in India?
Connecting to poll...
More about Enforcement Directorate
Read the original article
Visit the source for the complete story.





