Meta, Google officials fail to depose before ED; called again on July 28
It is understood that the representatives of the two companies sought deferment of the July 21 summons, saying they need time to collect relevant information and documents before they present themselves for questioning and recording of their statements at the federal probe agency.
Sources said the executives have been given a one-week extension and asked to depose on July 28.
Once they depose, their statements will be recorded under the Prevention of Money Laundering Act (PMLA), the sources said.
A Google spokesperson told PTI in a statement that the company was "committed to keeping our platforms safe and secure, prohibiting the promotion of illegal gambling ads."
"We are extending our full support and cooperation to investigating agencies to hold bad actors responsible and keep users safe," the spokesperson said.
There was no response from Meta.
The federal agency is probing several platforms allegedly hosting illegal betting and gambling links, including instances of advertisements placed for them on various social media outlets and app stores.
The tech giants are understood to have been called by the ED to know how such illegal platforms can place ads on their portals.
Some actors, celebrities and sports persons are also under the scanner of the agency in these cases, and are expected to depose.
The ED has claimed illegal online betting and gambling platforms cheated people of their hard-earned money, and also laundered and evaded paying taxes of up to several crores of rupees.
Google said its "continuous AI advancements, complemented by human expertise, ensure all ads on our surfaces comply with local laws and our strict ad policies, and protect users from evolving threats."
"Last year alone, we removed 247.4 million ads and suspended 2.9 million advertiser accounts in India," the firm said.
The ED is investigating more than a dozen cases linked to illegal gambling and betting platforms across the country, including the Mahadev Online Book (MOB) app, whose main promoters hail from Chhattisgarh.

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Hindustan Times
6 minutes ago
- Hindustan Times
ED freezes ₹17.4 crore assets in ₹200 crore Axis Mutual Fund front-running case; ex-fund manager arrested
MUMBAI: The Enforcement Directorate (ED) has frozen assets worth ₹17.4 crore in a multi-city crackdown linked to a ₹200 crore money-laundering case involving front-running trades at Axis Mutual Fund. The agency on Saturday also arrested the alleged kingpin, Viresh Joshi, who was the fund manager at Axis Mutual Fund during the time of the alleged offences. ED freezes ₹ 17.4 crore assets in ₹ 200 crore Axis Mutual Fund front-running case; ex-fund manager arrested The searches were carried out on Friday and Saturday at locations across Mumbai, Delhi, Gurugram, Ludhiana, Ahmedabad, Bhuj, Bhavnagar, and Kolkata under the Prevention of Money Laundering Act (PMLA). The frozen assets — considered proceeds of crime — include shares, mutual fund holdings, and bank balances. According to the ED, Joshi and others made illegal profits by engaging in front-running — an illicit trading practice where brokers or insiders exploit advance knowledge of large client trades to buy or sell stocks for personal gain. The trades were allegedly conducted between 2018 and 2021, using sensitive data from Axis Mutual Fund, which manages assets worth over ₹2 lakh crore. The ED said Joshi used a trading terminal in Dubai to execute these front-running orders through mule accounts obtained from multiple brokers. The investigation has so far identified proceeds of crime exceeding ₹200 crore, though officials believe the actual figure could be significantly higher. 'The funds were routed through a complex web of shell entities and accounts controlled by the accused, their associates, and family members,' an ED official said. The central agency launched its probe after the Mumbai Police registered a case in December 2024, alleging that Joshi had misused confidential trading information to cheat investors. The ED said several other traders and brokers are also under the scanner for allegedly participating in the scheme and generating illicit profits.


Economic Times
2 hours ago
- Economic Times
ET Exclusive: ED to question bank officials over Rs 17,000 cr loan fraud linked to Anil Ambani-led Reliance Group
The Enforcement Directorate (ED) will summon officials of private and public sector banks that had given loans to Anil Ambani-led Reliance Group for questioning in connection with its money laundering probe into the alleged ₹17,000 crore bank loan fraud, said people with knowledge of the matter. The central agency, which has already summoned Ambani in the case, will question the officials on the action initiated by them against the Reliance Group companies which had failed to repay the loans, they said. 'We want to ascertain what action the banks took, if any, against the companies which defaulted. Did they lodge a complaint with any investigating agency, seeking registration of a criminal case against the companies?' a senior official told ET on condition of ED will also seek details of the credit assessment conducted by the banks, the official said, adding the agency will issue summons to the bank officials in next few 20 private and public sector banks had given loans to Reliance Group entities which eventually turned into non-performing assets. Loans to three group companies—Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL) and Reliance Communications (RCom)—totalled about ₹17,000 crore. According to data available with the ED, RHFL owes more than ₹5,901 crore to banks, while RCFL has outstanding loans of over ₹8,226 crore and the outstanding loan amount in the case of RCom is nearly ₹4,105 crore. Besides the beleaguered Yes Bank, other lenders that gave loans to Reliance Group companies include State Bank of India (SBI), UCO Bank, Axis Bank, ICICI Bank, HDFC Bank, Bank of India and Punjab and Sind Bank. ET was the first to report on August 1 that the ED had issued summons to Anil Ambani for questioning in connection with the alleged loan fraud case. He has been asked to appear at the ED headquarters in the capital on August 5. Late on Friday, the ED arrested the managing director of an Odisha-based company, its first arrest in the case allegedly involving Reliance Group. The agency has accused Partha Sarathi Biswal, managing director of Biswal Tradelink Pvt Ltd (BTPL), of arranging a fake bank guarantee of Rs 68 crore for a Reliance Group ED sought six days of custodial interrogation of Biswal to ascertain 'his role and role of other associates/entities and to identify the beneficiaries of the proceeds of crime', said the court order, a copy of which was seen by agency also sought custodial interrogation on the grounds that it had to recover the alleged proceeds of crime. It informed a local court that it had seized 'various incriminating voluminous documents and digital devices' from Biswal's residence during its raid on August 1. Advocate Ayush Jindal appeared on behalf of Biswal. A Delhi special court ruled that 'there is prima facie compliance of Section 19 of PMLA (Prevention of Money Laundering Act) during the arrest of the accused'. 'The investigating officer (IO) from the material and the investigation conducted has formed an opinion that the accused is guilty for the offences of money laundering and effected his arrest accordingly,' it Saturday, Biswal was remanded to ED custody till August to the ED, its investigation revealed that BTPL fraudulently arranged and submitted the fake bank guarantee along with forged SBI endorsements and fabricated confirmations on behalf of Reliance Nu Bess Ltd for a tender floated by Solar Energy Corporation of India Ltd (SECI). For this, BTPL received Rs 5.40 crore from Reliance Nu Bess' parent, Reliance Power Ltd, the agency has evidence gathered by the ED confirmed the use of fake documents in the name of certain banks and fake email IDs in the name of SBI, said a press statement on Saturday, the ED said, 'Probe reveals BTPL, a small company incorporated in 2019, maintained multiple undisclosed bank accounts and carried out transactions disproportionate to its declared turnover. Many violations of the Companies Act are found.'Statutory records such as books of accounts and shareholders' registers were not found at the registered address, it said, adding: 'Dummy directors are found to be used just to sign the documents.' At least seven undisclosed bank accounts of the company were found and 'proceeds of crime, of crores of rupees, have been traced to these accounts', the ED to the agency, Biswal Tradelink ran a racket that issued fake bank guarantees to business per the ED, the Delhi Police filed the first information report in the case based on a Reliance Nu Bess complaint accusing Biswal Tradelink of cheating it by promising to arrange bank guarantees for a fee and then providing a fake bank guarantee. According to the ED, Reliance Nu Bess wrongly claimed that it was cheated. 'Documentary evidence reveals that apparently the two parties acted in collusion. The directors of Biswal Tradelink were found to be previous directors of Reliance Group,' a senior official had told ET.A statement issued by Reliance Group on Friday said, 'The company and its subsidiaries acted bonafidely and have been a victim of fraud, forgery and cheating conspiracy. The company has made due disclosure on this to the stock exchanges on November 7, 2024.'It further said that 'a criminal complaint in this regard has already been lodged with the Economic Offences Wing of Delhi Police against the third party on October 16, 2024' and that the 'due process of law will follow'.


Indian Express
3 hours ago
- Indian Express
ED arrests ex-Axis fund manager in Rs 200-crore front-running case
The Enforcement Directorate (ED) has arrested Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, for allegedly cheating investors of around `200 crore through front-running. Front-running refers to an illegal practice in the securities market in which brokers or traders execute orders for their own benefit using advance knowledge of pending client orders. This malpractice compromises market integrity and disadvantages other investors. Joshi was arrested on August 2 and was produced before a Prevention of Money Laundering Act (PMLA) court which granted the ED his custody till August 8. The ED initiated its investigation on the basis of an FIR registered by Mumbai Police in December 2024, which alleged that Joshi exploited confidential information on the trades to be executed on behalf of Axis Mutual Fund to preemptively trade stocks, generating substantial illicit gains. 'He cheated the investors of Axis Mutual Fund which holds assets under management of more than Rs two lakh crore,' a ED spokesperson said in a statement. 'Joshi had utilised a terminal in Dubai to punch the front running trade orders through mule trading accounts obtained from various brokers… many other traders/brokers had also misused the advance inputs on Axis Mutual Fund Trades and indulged in front running to generate illicit trade profits,' the ED said. The proceeds of crime could be much higher than `200 crore, it said.