Skip to content
Download

ED Searches 20 Premises Over All Panel Exchange and MGM91 Betting Network

· Diwa Bonus News Desk

Illustration for the news story: ED Searches 20 Premises in All Panel Exchange Probe
Illustration — not a photo of the events described.

The Enforcement Directorate (ED) has stepped up its money laundering investigation into two online betting platforms, All Panel Exchange and MGM91. On Saturday, 17 October 2026, the agency said its Mumbai zonal unit had carried out searches on 13 October at 20 premises across five cities: Mumbai, Pune, Mehsana, Surat and Hyderabad. The searches were conducted under the Prevention of Money Laundering Act (PMLA), 2002.

What the ED says happened

According to reports in mid-day and the Hindustan Times, the case grew out of two earlier criminal complaints. In both, people were allegedly persuaded to deposit money on the betting platforms and were then cheated. The ED then followed the money.

Investigators say the funds collected from victims reached bank accounts linked to a Pune-based company, Edsom Fintech Pvt Ltd, founded by Ram U Ramdhani. The company is said to have built and run its own payment intermediary platform called iPaisa. Through iPaisa, the ED alleges, more than 200 shell or front entities were onboarded and described internally as “merchants”. These entities allegedly handled transactions for betting operators and their agents, who were called “channel partners” or “carry and forward agents”.

Key facts from the reports

  • 20 premises, five cities: searches took place on 13 October in Mumbai, Pune, Mehsana, Surat and Hyderabad.
  • More than 200 shell entities: allegedly used through the iPaisa platform to route money.
  • Dubai links: investigators say several people running the platforms were being controlled from Dubai.
  • Three alleged exit routes: remittances disguised as trade payments with inflated invoices, cash withdrawals from mule accounts opened in the names of Agricultural Produce Market Committee (APMC) units, and conversion of money into cryptocurrency.
  • Accounts frozen: documents and digital devices were seized and multiple bank accounts were frozen under the PMLA.
  • Earlier action: the agency had already searched locations in Pune, Mumbai and Bengaluru and had arrested Ramdhani, who the reports say is in judicial custody.

The reports also say certain cooperative banks allegedly provided infrastructure to collect and layer the money. These are allegations at the investigation stage; no court has ruled on them.

Why it matters for Diwa and Yono app players

Many people who play Diwa-family and Yono-family games in India add money through UPI and rarely look at who actually receives it. This case shows why that matters. The ED’s account describes a system where a player’s deposit could pass through a “merchant” name that has nothing to do with the game they think they are paying.

When a payment account is frozen in an investigation like this, ordinary users can be caught in the middle. Money sent to such accounts can become very hard to trace or recover. A long chain of unfamiliar payee names, agents asking you to pay a personal account, or requests to move money in cash or crypto are all signs that something is wrong.

Remember too that the Promotion and Regulation of Online Gaming Act, 2025 now prohibits offering and financially enabling online money games in India. An app being easy to download does not make it legal to play for money.

Practical safety takeaway

  • Check the law first. Read the official government notification on online money games before you put any money into an app.
  • Stay 18+. Real-money play is not for minors, and parents should keep UPI apps locked.
  • Look at the payee name. If a UPI request shows a name that does not match the app, stop.
  • Never share your OTP or UPI PIN, and never pay an “agent” into a personal account.
  • Report quickly. If you lose money, call the cyber fraud helpline 1930 or file a complaint at cybercrime.gov.in, and tell your bank at once.

We will follow the case and update this story if the ED or a court shares new information.

More player news on Diwa Bonus: bookmark this ED Searches 20 Premises in All Panel Exchange Probe story and see the latest Diwa Bonus news.

Sources

Frequently Asked Questions

Which platforms is the ED investigating?

The reports name two online betting platforms, All Panel Exchange and MGM91. The case is a money laundering probe under the PMLA, 2002.

Where did the searches take place?

The ED says it searched 20 premises on 13 October 2026 in Mumbai, Pune, Mehsana, Surat and Hyderabad.

What is iPaisa?

According to the ED, iPaisa is an in-house payment intermediary platform run by Pune-based Edsom Fintech Pvt Ltd, allegedly used to onboard more than 200 shell entities to route betting money.

What should I do if I paid money to a suspicious gaming payee?

Contact your bank straight away, call the cyber fraud helpline 1930 and file a complaint at cybercrime.gov.in. Keep screenshots of the payment and the payee name.