New Delhi, Jul 10 (PTI) Online platform Probo on Thursday said it was "cooperating" with the Enforcement Directorate (ED) which raided its premises recently in an "illegal" betting-linked money laundering investigation, adding it adheres to required laws and regulations.

The federal probe agency said in a statement issued on Wednesday that Haryana-based company named Probo Media Technologies Pvt Ltd and its promoters undertook "gambling/betting" activities through their Internet-enabled platform as it froze its fixed deposits and shares worth more than Rs 284 crore.

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The company operated a mobile app and a website under the name Probo.

"In light of recent developments, we would like to assure all stakeholders and the public that Probo is cooperating with law enforcement authorities in the ongoing inquiries."

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"As pioneers of a nascent-yet-transformative technology in India's digital landscape, we remain confident that our commitment to compliance and innovation will help us emerge stronger through this process," a Probo spokesperson said in a statement to PTI.

The spokesperson added that they had "complete faith in India's robust regulatory framework and its vision for responsible tech innovation."

The money laundering case stems from multiple police FIRs registered against the company and its promoters in Gurugram and Palwal in Haryana and Agra in Uttar Pradesh.

The ED, early this week, raided four premises in Gurugram and Jind in Haryana of the company and its promoters Sachin Subhaschandra Gupta and Ashish Garg.

The agency said the complainants told the police 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.

It alleged that an analysis of games available on Probo platforms shows that they can be answered with a '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.

"We reiterate that Probo adheres to all applicable laws and regulations and maintains the highest standards of compliance. User safety and trust remain our top priorities. We sincerely appreciate the continued support of our community and will provide updates as appropriate," the company spokesperson said.

Probo said it was an innovative skill-based platform with over 4.2 crore users.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)