The Enforcement Directorate (ED) has arrested siblings Chirag Shah and Chintan Shah in connection with a high-profile money laundering investigation linked to the FairPlay app, a platform allegedly used for illegal betting tied to unauthorised cricket match broadcasts.
A court has remanded the two in two-day police custody following their arrest. The ED revealed that the brothers played a crucial role in helping the app’s owner, Krish Shah, run illegal betting operations.
Investigators say Chirag and Chintan were involved in developing the platform’s technical infrastructure, including software solutions, transactional systems, and promotional campaigns. They also helped launder money through a network of shell companies and dummy bank accounts, a common tactic to obscure financial trails.
According to the ED, an estimated Rs4,500 crore was illegally moved overseas, camouflaged as import payments and foreign investments, primarily through pharmaceutical companies.
Krish Shah, believed to be a key stakeholder in the FairPlay platform, had co-founded Fang Gaming in 2020 with Chirag Shah as part of a broader plan to expand into India’s online gaming industry. To sidestep Indian gaming regulations, FairPlay was registered offshore in Curacao, with supporting entities set up in Dubai, Malta, and other jurisdictions.
The Shah brothers allegedly managed banking operations, handled UPI collections, and used Ethereum wallets to route funds. They also maintained messaging platform numbers tied to FairPlay’s financial operations.
Digital evidence showed that the brothers were active in WhatsApp groups like ‘FairPlayTech’, ‘FairPlay Management’, and ‘FairPlay MH Team’, which discussed crypto wallets, user data, and daily transactions. ED claims the brothers were uncooperative during questioning.
The probe also uncovered that private financial service companies helped FairPlay distribute illegal payouts to users by funnelling money through a web of intermediary and dummy accounts, a method often used in digital financial fraud.
The investigation is ongoing as authorities work to identify other individuals and entities involved in the suspected international betting racket.
