During the searches, the ED seized approximately 2.25 crore rupees in Indian currency, 14,000 US dollars, and foreign currency equivalent to 8.50 lakh rupees. Furthermore, cryptocurrencies (including USDT) worth over 90 lakh rupees were frozen. The ED also confiscated several incriminating documents and digital evidence during the raids.

**Poker Chips Exchanged for Foreign Currency at the Casino**

The investigation revealed that poker chips were provided to customers in exchange for foreign currency at the casino. Winnings were also returned in foreign currency as per their preference. Employees associated with Golden Globe Hotels were actively promoting online gambling platforms such as rolex777.co, iCasino247.com, play247s.com, Win Daddy, and Poker Daddy.

**Crypto and Hawala Network Exposed**

The ED’s investigation uncovered that poker players’ crypto wallets were being utilized for financial transactions. USDT (USDT) was being sent to Dubai and other countries through Hawala channels. This network used mule accounts (bank accounts opened in the names of others) to deposit winnings and send funds abroad.

**Enforcement Directorate’s Claims**

The ED stated that the documents and digital evidence gathered during the searches clearly expose FEMA violations and a network associated with cross-border Hawala-crypto transactions. The ED indicated that the investigation is ongoing and further revelations are anticipated.

A 24-year-old restaurant waiter, Ajay, was initially arrested by Lucknow police. His interrogation led to significant revelations. Ajay disclosed that a friend introduced him to a crypto trader, who offered him ₹20,000 to use his bank account for a day’s transactions.

Lured by the money, Ajay allowed his account to be used. The following day, a substantial amount of money was deposited into his account. As instructed by the trader, he transferred the money to specified individuals. Ajay later turned government witness after the police raid, revealing his involvement in an international cyber fraud group.

During intense questioning, Ajay provided detailed information about the cyber gang operating in Lucknow, assisting the police in their investigation. The probe, spanning three months, revealed that the group targeted dozens of people, using them to transfer funds.

The group specifically targeted vulnerable individuals, including those working in small shops and restaurants, as well as some college students. These individuals received payments ranging from ₹10,000 to ₹30,000 for allowing their bank accounts to be used.

According to police, the activities were orchestrated via encrypted Telegram channels operated by Chinese operatives or their proxies. Local agents collected account information and documents. During transaction days, mule account holders were taken to banks to withdraw cash immediately following large NEFT, RTGS, or IMPS transfers. The cash was then handed over to crypto brokers, who converted it to USDT using decentralized, non-KYC wallets. The Binance app was extensively used in this entire network.

Over the past two months, Lucknow police have uncovered money laundering of ₹5 lakh to ₹5 crore through such accounts. All the money was converted to USDT and sent abroad.

More than 60 individuals are currently being questioned. Police are concerned about the concentration of mule accounts in areas like Chowk, Indira Nagar, and other newly developed areas of Lucknow. While several cases have been exposed, officials believe the scope of the fraud is extensive.