Adding another layer to the ongoing regulatory scrutiny around gaming startup WinZO, the Enforcement Directorate (ED) has provisionally attached ₹505 Cr ($55.7 Mn) held by the startup in foreign bank accounts in the US and Singapore. The attachment is a part of the ED’s ongoing money-laundering investigation into the online gaming platform. The funds were parked in accounts operated through overseas shell entities, Winzo US Inc and Winzo SG Pte Ltd in Singapore, which were controlled from India by WinZO’s cofounders Paavan Nanda and Saumya Singh Rathore, according to an ED statement. The ED said it had earlier conducted search and seizure operations at WinZO’s office premises and at the residence of one of its directors in November 2025, followed by raids at its accounting firm in December. According to the agency, evidence gathered during the investigation indicates that the startup allegedly used bots and algorithm-driven personas to play against real users in paid games, without disclosing this to customers. The ED also alleged that the company restricted or delayed withdrawals from user wallets, inducing players to continue gaming. It is pertinent to note that the ED had filed a prosecution complaint alleging large-scale manipulation of games and laundering of… Read MoreInc42 Media
