Parimatch Probe Links COD Cash to Betting Fund Transfers
Free Press Journal reported the latest findings on September 10, citing Enforcement Directorate officials involved in the case. The alleged scheme involved Cash Management Services, or CMS, used for collections from e-commerce deliveries.
COD Cash Was Matched With Betting Transfers
Customers paid delivery riders in cash. Those collections normally moved through CMS distributors and agents before settlement with the relevant e-commerce or delivery platform.
Investigators say part of the cash was diverted to intermediaries linked to the betting network. Bank transfers from accounts holding betting proceeds were then used against the amounts due from those collections.
The physical cash allegedly continued through a separate route. Free Press Journal said hawala operators and local crypto intermediaries were used, with part of the money converted into USDT and moved to wallets outside India.
Searches in Mumbai and Jaipur also reached premises connected with a cash-management business and software supporting its agent network.
The CMS mechanism itself had appeared in the ED file months earlier. In May, the agency said cash received through CMS channels was being diverted and adjusted against RTGS transfers sourced from Parimatch user deposits. ED said this disguised the origin and trail of the funds before cash was moved abroad through hawala.
Delivery Networks Had Appeared in the Case Before
The delivery angle has another link to the earlier investigation. ED’s May release said Parimatch had used leading quick-commerce applications for promotion and circulated betting-related material with grocery deliveries. The agency described this as part of the brand’s hyperlocal marketing in India.
The latest findings concern a different part of the operation: money collected through COD. They put e-commerce delivery infrastructure on the payment side of the case as well.
Payment Infrastructure Moves Into Focus
There is no indication that the promotional activity and the alleged cash diversion involved the same companies. But both findings show how far the investigation has moved beyond the betting platform itself.
That broader expansion was already visible in 15M’s September 5 report on the case. ED had searched 17 locations while following third-party business accounts, cash-management agents, hawala routes and transfers abroad.
As of now, ED is continuing to trace the CMS accounts and the people who received the diverted cash.