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Brokers arrested in commodities trading case found betting on IPL match

However, investigators say that a probe of the devices revealed no trading of commodities.

By: Express News Service | Mumbai |
April 22, 2015 1:41:51 am

Police probing two stock brokers for speculating on gold and silver, has found instead that the men were betting on matches played in last month’s cricket World Cup and in the Indian Premier League.

The Vikhroli police station had first received information on Sunday evening regarding the betting, and then asked the Pant Nagar police station for assistance as the duo’s office was in the latter’s jurisdiction. A senior police officer said that one laptop, three computers and four cell phones were found in the search of the duo’s office late in Ghatkopar East on Sunday evening.

However, investigators say that a probe of the devices revealed no trading of commodities, but instead, evidence in the form of messages to suggest that one of the two was betting on cricket matches in the recently concluded World Cup.

“The amount of money that hey bet was not very high. There were two messages that indicate betting on cricket – one on a match between Sri Lanka and South Africa and another of an IPL match played in Bangalore. We are trying to ascertain if that match was played In the IPL’s current edition,” said an officer investigating the case.

He added, “No evidence has surfaced to proved that the two were betting on the gold and silver commodities as claimed by the brokers.”

A senior officer said that all messages contained in the four phones seized from the duo were being checked “We have recovered most of the deleted data from the phones and will send the information to the Economic Offences Wing if there any indication that the men have committed an economic offence,” he said.

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