Mahadev online betting case: ED freezes Rs 580 crore, cash and valuables also seized in the raid

Many high-ranking politicians and bureaucrats of Chhattisgarh are reportedly involved in the Mahadev online betting case. According to ED, the estimated income earned from crime in this case is around Rs 6000 crore.

New Delhi :The Enforcement Directorate (ED) has frozen Rs 580 crore earned from the proceeds of crime in the Mahadev online betting case. Apart from this, cash worth Rs 1.86 crore and valuables worth Rs 1.78 crore have been seized during the raid. These raids were recently conducted by ED in Delhi, Mumbai, Kolkata, Raipur, Indore and Gurugram. According to ED, the estimated income earned from crime in this case is around Rs 6000 crore.

This is how the online betting game was going on

ED started its investigation on the FIR of Chhattisgarh Police. Apart from this, Visakhapatnam Police and police of some other states had also registered a case against Mahadev App, which was also taken on record by ED. Investigation revealed that Mahadev App was being run from Dubai, whose franchise was given under different names in many countries at 70 to 30 percent profit margin. The promoters of Mahadev App were also partners in some other betting apps like Ready Anna Fair Play and other apps. The earnings through these apps were being transferred from one place to another through fake bank accounts and hawala. During investigation, it was revealed that Hari Shankar TIBERWAL, a big hawala businessman from Kolkata, who is living in Dubai, is carrying forward this business with the promoter of Mahadev App. 

Speculation money was being invested in the stock market

After this information, ED conducted raids on the locations of Hari Shankar and his close ones in which it was found that he was also running his own betting app in the name of Sky Exchange. The earnings from this betting app were being invested in the Indian Stock Market through FPI routes. Apart from this, he had shown many of his associates as directors and employees of a fake company, through whom he was investing money in the stock market. While taking action against Hari Shankar, ED has frozen Rs 580.78 crore under PMLA.

A total of 15 premises were raided

Many high-ranking politicians and bureaucrats of Chhattisgarh are reportedly involved in the Mahadev online betting case. According to officials, raids were conducted at six places in the state, including the residence and office of a businessman in Salt Lake. Official sources of the Enforcement Directorate said that as part of the investigation into the Mahadev online betting case, a total of 15 premises in Mumbai, West Bengal and Delhi-NCR were raided recently. ED has so far arrested a total of nine people in this case.  

The ED had earlier said that the alleged illegal money earned by the app was used to bribe politicians and bureaucrats in Chhattisgarh. The main promoters and operators of the app are from Chhattisgarh only. The agency has summoned several celebrities and Bollywood actors for questioning over their links with the online betting platform.