New Delhi, April 15 : The Enforcement Directorate (ED) said on Saturday that it recently carried out a search operation at a fintech company which resulted in the identification and freezing of 150 bank accounts in a case related to an illegal betting racket involving a person named Rakesh R. Rajdev and others. The ED said that these accounts were involved in the layering of funds received from individual persons, who placed bets through the website www.wolf777.com. "Subsequent to the searches, an amount of Rs 3.05 crore lying in 10 bank accounts was freezed under the provisions of the Prevention of Money Laundering Act (PMLA)," said an ED official. The ED said that the bank statements of rest of the entities whose accounts were freezed during the course of search were called for from the banks and analysed by the probe agency. "In the account analysis, we found that funds amounting to Rs 46.10 crore are lying in these accounts, which were routed through various dummy entities. Thus, a total amount of Rs 49.15 crore has been seized by the ED in this case till date," the official said. The ED initiated the investigation after recording an Enforcement Case Information Report (ECIR) based on an FIR lodged by the DCB police station in Ahmedabad. During investigation, proceeds of crime, i.e., the money generated through the betting app www.wolf777.com, were traced and it was found that bank accounts in the names of various fictitious entities were opened for routing and layering of money which was then sent abroad through bogus entities in the guise of import. /IANS