WinZO promoters made ₹177 cr illicit funds by cheating gamers: ED
ED alleged that the promoters of WinZO cheated genuine players by using a deceptive algorithm leading to the generation of illicit funds of ₹177 crore in about a year's time. It added that the directors diverted the proceeds of crime to their foreign subsidiaries. Earlier, ED arrested founders Saumya Singh Rathore and Paavan Nanda on the charges of money laundering.