ED arrests co-founders of gaming platform WinZO:Probe agency freezes assets worth ₹505 crore including ₹43 crore of gamers’ money despite the government ban

The Enforcement Directorate (ED) has arrested Pawan Nanda and Saumya Singh, co-founders of online gaming platform WinZo, on charges of money laundering. Bonds, fixed deposits and mutual funds worth a total of ₹505 crore belonging to WinZo have been frozen under PMLA. According to ED, the company had withheld ₹43 crore of gamers’ money which was to be returned to gamers after the ban on real money gaming (RMG) in the country. Both were presented in a local court in Bangalore, where they were given one day ED custody. The next hearing date has not been revealed. The 2 WinZo founders who were arrested are the following: Know about WinZO WinZO is India’s leading social gaming app. In 2018, Pawan Nanda and Saumya together founded WinZO. The platform offers more than 100 skill-based games like Ludo, Carrom, Chess, Puzzles. It has more than 250 million (25 crore) Indian users. After the ban on real money gaming this year, free mode TV shows, short drama episodes etc. are now made available here. Users are charged for this. Cricketer Mahendra Singh Dhoni has been advertising for it. Gamers lose ₹20,000 crore every year