The Enforcement Directorate says it arrested Sagar Dash on October 27 in its ongoing money-laundering investigation into an alleged online gaming, betting and cyber-fraud network linked to All Panel Exchange. The agency’s update says a Mumbai special court remanded Dash to ED custody for three days. The investigation is ongoing, and the release is not a finding of guilt against any person.
For users, the practical issue is payment safety. Betting panels can look like ordinary cricket or gaming services while directing deposits through rotating accounts, payment links or private UPI IDs. A familiar sports name or polished app screen is not proof that an operator is legitimate.
What the ED has said about the case
The ED’s October press-release archive records the October 27 arrest as part of the All Panel Exchange investigation. Earlier, the agency said it searched 20 premises on October 13 across Mumbai, Pune, Mehsana, Surat and Hyderabad in a probe involving All Panel Exchange and MGM91.
According to that October 17 release, investigators allege that victim deposits moved through an in-house payment intermediary called iPaisa and more than 200 shell or front entities. Hindustan Times’ October 18 report describes the same 20-premises search operation and says the inquiry concerns alleged routing through shell entities and mule accounts.
Why a payment route is a major warning sign
A legitimate app should not require a deposit to a personal account, an unrelated business name or a chat-group QR code. Stop before paying if the operator cannot show a clear company identity, written terms, customer support and a verifiable payment route. Never share an OTP, UPI PIN, card CVV or screen-control access with a supposed gaming agent.
The allegations in the ED release are specific to its investigation. They should not be used to make claims about unrelated games, but they are a strong reason to avoid any link that sells “guaranteed cricket tips”, asks for a payment before a withdrawal or moves the conversation to Telegram.
How this fits the wider enforcement picture
This is a later procedural update in an investigation we first covered in our All Panel Exchange ED-raids report. For other examples of the risks around routed deposits, read our DGGI shell-merchant update and Mahadev Online Book case update.
India’s current framework also matters: the online-gaming rules explainer sets out why users should distinguish social games and esports from money-based offers. If you believe you have been cheated, preserve the transaction details, screenshots and relevant URLs before reporting the matter through the appropriate official channel.
Sources: the ED’s October 2026 press-release archive, the ED search result for the October 27 arrest, and Hindustan Times’ October 18 report.
