ED Freezes Rs 192 Cr More of WinZO in Money Laundering Probe

• Enforcement Directorate froze new bank deposits, mutual funds, and fixed deposits worth Rs 192 crore belonging to WinZO in a money laundering case.
• Searches were conducted at WinZO's auditor's office on December 30, following earlier raids in November where Rs 505 crore was frozen.
• WinZO founders Saumya Singh Rathore and Paavan Nanda were arrested; Rathore received bail, Nanda was denied.
• ED alleges WinZO used bots against real players, limited withdrawals, and generated illicit funds, estimating total proceeds of crime at Rs 802 crore.
• A portion of alleged illicit funds, including USD 54 million, was reportedly moved to the US and Singapore via a "shell" company, WINZO US Inc.

Why It Matters: ED intensifies probe into WinZO, freezing additional assets and alleging widespread money laundering.