ED investigation revealed that the app/ websites defrauds its users by initially promoting a deceptive image of a legitimate skill-based platform, only to ultimately exploit them through a betting mechanism where success is governed entirely by chance and not by the user's abilities or insights.
FinTech BizNews Service
Mumbai, July 11, 2025: Directorate of Enforcement (ED), Gurugram Zonal Office has conducted search operations on 8.7.2025 & 9.7.2025 at four premises in Gurugram and Jind, Haryana related to M/s. Probo Media Technologies Pvt. Ltd. and its promotors namely, Sachin Subhaschandra Gupta & Ashish Garg under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in connection with the company’s illegal gambling/ betting activities across India. M/s. Probo Media Technologies Pvt. Ltd. operates the app & website “Probo’, which provides platform for online gaming, as per a press release issued by the ED.
ED initiated investigation on the basis of multiple FIRs registered under various sections of BNS, 2023 and Public Gambling Act, 1867 against M/s. Probo Media Technologies Pvt. Ltd. & its Directors/ promoters in Gurugram, Palwal- Haryana and Agra- Uttar Pradesh. The complainants in the FIRs had alleged that they were cheated and dishonestly presented a scheme of earning money through simple "yes or no" questions while the scheme in reality promotes gambling by luring players to invest more in the hope of earning higher returns.
ED investigation revealed that the app/ websites defrauds its users by initially promoting a deceptive image of a legitimate skill-based platform, only to ultimately exploit them through a betting mechanism where success is governed entirely by chance and not by the user's abilities or insights. The company claims its platform as ‘opinion trading’ and knowledge/ skill is required to play the game. However, analysis of games shows that all the games can be answered with ‘Yes or No’ and hence, there are only two possible outcomes which makes it indistinguishable from gambling/ betting resulting in loss of hard earned money of the users.
ED searches also revealed that the app/website do not have a mechanism to prevent minors from registering as users, absence of proper due diligence (KYC), inducing new users through misleading advertisements and promoting opinion trading related to election results. Investigation also revealed that the company had received Rs. 134.84 Crore against issue of Preference Shares from foreign entities based out of Mauritius, Cayman Island and others. The search resulted in seizure of incriminating documents and digital data. Further, investment in FDs and shares amounting to Rs. 284.5 Crore and three bank lockers have been freeze during the course of the searches. Further investigation is under progress.
