Indian authority attaches $55M in Winzo overseas accounts
The Directorate of Enforcement, a law enforcement and economic intelligence agency of the Government of India has provisionally attached movable assets worth ₹505 crore (US$55.69 million) in Bengaluru, held in foreign bank accounts in the United States and Singapore. The agency alleges that these funds are linked to overseas shell companies of Winzo Pvt Ltd and form part of the proceeds of crime generated through its online gaming operations.
Foreign accounts of Winzo
The Enforcement Directorate said the attached assets are held in bank accounts maintained in the names of Winzo US Inc and Winzo SG Pte Ltd. According to the agency, these companies are overseas entities allegedly operated and controlled by Paavan Nanda and Saumya Singh Rathore.
Officials stated that these accounts were used to park funds that were allegedly transferred out of India under the guise of overseas investments. The agency claims that although the entities were registered abroad, operational control and day to day business activities were carried out from India.
With this latest provisional attachment of ₹505 crore ($55.69 million), the total value of proceeds of crime attached or frozen in the case has reached approximately ₹1,194 crore ($131 million).
Searches conducted at Company
The investigation began with search and seizure operations carried out on 18 November 2025, at the office premises of Winzo Pvt Ltd and at the residence of one of its directors. The agency also conducted searches at the company’s accounting firm on 30 December 2025.
The Enforcement Directorate said that documents, digital records and other materials collected during these searches formed the basis of its ongoing investigation.
Allegations of BOT driven games and undisclosed play
According to the agency, evidence gathered during the searches and subsequent probe revealed that the company allegedly engaged in criminal and unscrupulous practices.
The Enforcement Directorate claims that customers were made to participate in real money games against BOTs and AI driven algorithms or software systems, referred to as PPP, EP or Persona. The agency alleges that users were not informed that they were playing against automated systems instead of human players.
Investigators further stated that the company restricted or limited withdrawals of funds from customer wallets. The agency claims that these restrictions induced users to continue playing on the platform.
Through repeated gameplay under such conditions, users’ deposited amounts were allegedly appropriated in the form of rake commission charged on each match.
ED quantifies alleged proceeds of crime
The Enforcement Directorate has quantified the alleged proceeds of crime at ₹3,522.05 crore ($388 million) for the financial years 2021 to 2022 up to 2025 to 2026, till 22 August 2025.
The agency stated that this amount represents rake commission generated from matches allegedly played between BOTs and real players on the Winzo app.
Before the latest attachment, officials had already frozen movable properties worth around ₹689 crore ($76 million) in connection with the case. With the addition of the newly attached foreign assets, the total value of assets attached or frozen now stands at about ₹1,194 crore ($131 million).
The investigation is ongoing. The Enforcement Directorate has indicated that further action may follow based on the outcome of its probe.
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