The ED undertook investigations after an FIR was registered by Maharashtra cyber cell, based on the information given by Viacom18 Media Pvt Limited against Fairplay for illegal streaming of IPL matches. The FIR was lodged under various sections of the IPC, 1860, the Information Technology Act, 2000, and the Copyright Act, 1957 against Fairplay Sport LLC and others for causing a revenue loss exceeding Rs 100 crore (proceeds of crime).

The ED's investigation revealed that Fairplay made agreements through foreign-based entities in Dubai and Curacao with Indian agencies representing celebrities. It was found that Indian agencies did not perform due diligence regarding Fairplay before executing promotional agreements.

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Investigations revealed that Fairplay collected funds through various bogus or shell bank accounts, which were layered through a complex web of bank accounts of shell entities and then accumulated in pharma companies involved in bogus billing. “Funds from these companies were siphoned off to overseas shell entities based in Hong Kong SAR, China, and Dubai. More than 400 bank accounts of shell entities were found to be used for these purposes, which are under examination along with the trailing and utilization of funds collected from the public by Fairplay,” an ED official said.