India’s Big Daddy Casino group denies cash or crypto seizures during ED raids

The operator says reports of seized assets are “factually incorrect.”

India.- Goa’s Big Daddy Casino group has denied reports that illegal cash, foreign currency or crypto assets were seized at its properties during recent Enforcement Directorate (ED) raids. The company issued a clarification nearly a month after the ED announced seizures as part of an investigation spanning multiple states.

According to the operator, only four of the 15 sites raided were connected to its businesses: Big Daddy Casino and Strike Casino in Goa along with corporate offices in Goa and Gurgaon. The group stated that “no cash, foreign currency, cryptocurrency, or any illegal asset” was seized from these premises, and that media reports suggesting otherwise had created confusion.

The ED had reported recovering INR 22,5m (US$250,000) in cash, foreign currency worth around INR850,000 (US$9,500) and over INR9m (US$100,000)  in various cryptocurrencies during a September 28 operation as part of a probe into alleged FEMA violations, cross-border hawala and crypto transactions, and foreign-currency-based chip and payout practices.

Investigators also claimed that online casino platforms were promoted by staff of Golden Globe Hotels Pvt. This prompted assumptions that the assets were seized from Big Daddy Casino group sites.

See also:

See also: Indian ED raids Goa casino group

The operator says reports of seized assets are “factually incorrect.” India.- Goa’s Big Daddy Casino group has denied reports that illegal cash, foreign currency or crypto assets were seized at…