Outlook Business Desk
WinZO founders Saumya Singh Rathore and Paavan Nanda were reportedly taken into custody by the Enforcement Directorate (ED) in Bengaluru in connection with a money laundering investigation.
The ED said ₹43 crore belonging to gamers remained with WinZO after India banned real-money gaming. The agency alleged the platform used algorithms rather than human players, leading to unfair practices on the app.
The ED also claimed WinZO operated real-money games in countries such as Brazil, the US, and Germany through its India-based platform, with $55mn (₹490 crore) reportedly parked in a US shell company.
WinZO’s bonds, fixed deposits, and mutual funds worth ₹505 crore were frozen under the Prevention of Money Laundering Act. The agency also alleged the company restricted wallet withdrawals for users, generating illicit funds in the process.
Saumya Singh Rathore is the co-founder of WinZO, a social gaming platform launched in 2018 that offers monetary rewards. Before starting WinZO, she worked with Paavan Nanda at Zo Rooms.
According to her LinkedIn, Rathore has held leadership roles at Times Network and The Times of India. She also worked as a business manager at Times Group companies and was employed with KPMG London.
In 2021, Saumya Singh Rathore featured on the Kotak Private Banking Hurun Leading Wealthy Women List, which, according to Mint, ranked her among the youngest entrants with an estimated wealth of ₹520 crore.
Rathore studied Applied Clinical Psychology at Bangalore University in 2005. She later earned a Master’s in Organisational and Consumer Psychology from the University of Manchester, with additional focus on industrial and consumer psychology.
Following the accusations, a WinZO spokesperson told PTI, that the platform operates on principles of fairness and transparency. They stated that the company focuses on safeguarding users, staying fully compliant with applicable laws and maintaining a secure gaming environment.