New Delhi, December 7: The Directorate of Enforcement (ED) has attached assets worth ₹387.99 crore in connection with the Mahadev Online Betting Case under the Prevention of Money Laundering Act (PMLA), the agency announced on Saturday.
Details of Attached Assets
The attached assets, seized on December 5, include:
- Movable investments linked to a Mauritius-based company, Tano Investment Opportunities Fund, associated with Hari Shankar Tibrewal through Foreign Portfolio Investment (FPI) and Foreign Direct Investment (FDI).
- Immovable properties located in Chhattisgarh, Mumbai, and Madhya Pradesh.
These assets are held by promoters of multiple betting apps, panel operators, and their associates, the ED stated.
Investigation Findings
The ED’s investigation uncovered that the Mahadev Online Book Betting App operates as a syndicate enabling illegal betting through online platforms.
- The app facilitates user enrollment, creation of user IDs, and money laundering through an intricate web of benami bank accounts.
So far, the ED has seized or frozen assets worth ₹2,295.61 crore in this case, including:
- Cash: ₹19.36 crore
- Valuables: ₹16.68 crore
- Movable assets (bank balances and securities): ₹1,729.17 crore
Key Developments in the Case
- Provisional Attachments: Two previous orders attached assets worth ₹142.86 crore.
- Arrests: Eleven individuals have been arrested.
- Chargesheets: Two chargesheets filed, including against main promoters Sourabh Chandrakar and Ravi Uppal.
- Prosecution Complaints: Four complaints filed before the Special PMLA court in Raipur.
Celebrity Involvement
The ED has summoned several Bollywood actors and celebrities for questioning regarding their links to the betting platform and payment transactions.
Previous Recoveries
In November last year, the ED conducted raids on money laundering networks connected to the Mahadev app. These searches led to the recovery of:
- Cash: ₹5.39 crore
- Bank balances: ₹15.59 crore
The ED continues its investigation into the case, unraveling the vast network of financial operations involved in the Mahadev Online Book Betting syndicate.
