The Enforcement Directorate (ED) has taken a significant step in the Mahadev Betting App case by freezing assets worth Rs 508 crores. They revealed that the network behind this app was operating from Dubai.
During their raids across 15 locations in Kolkata, Gurugram, Delhi, Indore, Mumbai, and Raipur, the ED seized cash amounting to Rs 1.86 crore and valuables worth Rs 1.78 crore. Additionally, they identified and froze proceeds of crime totaling Rs 580.78 crore, alongside confiscating a substantial amount of digital evidence and assets.
The investigation uncovered a syndicate known as "Mahadev Online Book," which facilitated illegal betting websites. This syndicate operated by franchising panels and branches to associates, with operations primarily based in Dubai. The main promoters were also involved in similar ventures like 'Reddy Anna' and 'Fairplay', using hawala routes to move the proceeds offshore.
Further investigations led to the identification of key players, including Hari Shankar Tibrewal, a significant hawala operator residing in Dubai. Tibrewal was found to have partnered with the promoters of Mahadev Online Book and was involved in large-scale hawala transactions, including investing in the Indian stock market through foreign portfolio routes.
As a result, assets worth Rs 580.78 crore, beneficially owned by entities associated with Hari Shankar Tibrewal, have been frozen under the Prevention of Money Laundering Act (PMLA) 2002. This adds to the previous seizure of movable properties totaling Rs 572.41 crore.
The ED has filed prosecution complaints and apprehended several individuals in connection with the case. They've also summoned celebrities and Bollywood actors for questioning regarding their involvement with the betting platform.
Two charge sheets have been filed against the main promoters, Sourabh Chandrakar and Ravi Uppal, who are currently detained in Dubai. The agency is working on their deportation or extradition to India.
The investigation has revealed extravagant spending by Chandrakar, including around Rs 200 crore spent on his wedding in Ras Al Khaimah, UAE. The total projected proceeds of crime in this case are estimated at Rs 6,000 crore.
The ED continues to pursue the case rigorously, targeting all individuals involved in the illegal betting network associated with the Mahadev app.
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