ED Arrests Armstrong Exchange Founder Sagar Dash in Online Betting Scam

1 Nov 2026, 1:52 am · 3h ago · 1 min read · Inc42New

The Enforcement Directorate (ED) has arrested Sagar Dash, founder of Armstrong Exchange, in connection with an alleged online betting and gaming money laundering scam. Dash was detained under the Prevention of Money Laundering Act (PMLA) following FIRs related to All Panel Exchange. A special PMLA court in Mumbai remanded Dash to ED custody for three days. Investigators allege Dash used fabricated documents and shell entities to route hundreds of crores in illicit proceeds through cooperative society bank accounts and cryptocurrency platforms across Bengaluru and Hyderabad. The agency continues to probe related digital assets and transactions.