New Delhi, May 13 -- The Enforcement Directorate (ED) on Wednesday conducted searches in Delhi-NCR, Punjab and Uttar Pradesh in a money laundering case against New Delhi-based fintech company Pay10 Services Pvt Ltd-- formerly known as Bharti Pay.

The raids were conducted at multiple places in Delhi-NCR, Punjab's Ludhiana and Mandi Gobindgarh, as well as Uttar Pradesh's Agra under the Prevention of Money Laundering Act (PMLA) in the matter of Bharti Pay and Ors, said the officials.

In this case, officials said, an Enforcement Case Information Report (ECIR) was recorded against certain payment gateways that are involved in laundering proceeds of crime generated out of cyberfrauds and other unlawful activities.

Preliminary findings sugges...