Ahmedabad: A 28-year-old Rapido bike rider earning barely Rs 10,000–12,000 a month has emerged as a key link in a Rs 550-crore money laundering case, with the Enforcement Directorate (ED) alleging that his bank accounts were used to route illegal online betting proceeds and manipulate stock prices.

The ED on Tuesday filed a complaint with the Detection of Crime Branch (DCB), seeking registration of an FIR in connection with the alleged laundering network.

The complaint, filed by Hridesh Kumar, Assistant Director of ED Ahmedabad, is based on findings under the Prevention of Money Laundering Act (PMLA) during searches related to the 1xBet illegal betting racket. In a letter dated November 27, 2025, the ED informed the Ahmedabad Police Commissioner and sought action under the Bharatiya Nyaya Sanhita (BNS), the IT Act, and other laws.

At the centre of the probe is Pradip Od, a Rapido rider whose bank accounts and proprietorship firm M/s Pradip Enterprises were allegedly opened and operated by others using his PAN and Aadhaar details.

In his statement under the PMLA, Od said he was paid Rs 25,000 per account and Rs 400 for signing cheque leaves, claiming he had no control over the transactions.

The ED alleged that three firms Pradip Enterprises, Kamlesh Trading and Ronak Traders were created in 2024 using forged KYC documents and dubious addresses. Investigators estimate the accounts recorded around Rs 550 crore in credits and debits within a year.

According to the complaint, the accounts were used to launder illegal betting proceeds, conduct circular trading to inflate penny stocks, and fund personal expenses.

The alleged kingpin, Kiran Parmar alias Lala, is accused of running the network, while Mahadev, Jugal, Ravi and Jeevraj allegedly assisted in arranging SIM cards, managing cheque books and operating bank accounts. DeshGujarat