WinZO Founders Arrested for Money Laundering
Analysis based on 8 articles · First reported Nov 27, 2025 · Last updated Nov 28, 2025
The arrests of WinZO founders and the freezing of its assets are expected to negatively impact investor confidence in the online gaming sector in India, especially for companies operating real-money games. This event highlights increased regulatory scrutiny and potential legal risks for similar platforms, leading to a cautious market sentiment towards the industry. The alleged diversion of funds by WinZO to the United States and Singapore could also raise concerns about corporate governance and financial transparency in the sector.
The India — Enforcement Directorate arrested WinZO founders Saumya Singh Rathore and Paavan Nanda on money laundering charges in Bengaluru. The arrests followed raids on WinZO and Gamezkraft premises and the freezing of approximately ₹505 crore in assets belonging to WinZO. The India — Enforcement Directorate alleges that WinZO engaged in criminal activities, including making customers play with algorithms without their knowledge, misusing KYC data, and preventing withdrawals. Furthermore, WinZO is accused of operating real-money games in countries like Brazil, the United States, and Germany from India, and diverting USD 55 million to a shell company in the United States and Singapore. The India — Enforcement Directorate also stated that WinZO held ₹43 crore of gamers' funds without refunding them after India banned real-money gaming. WinZO has stated that it complies with all applicable laws and is cooperating with the investigation.
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