ED Cracks Down on Rs 91.82 Crore Illegal Betting Syndicate

The Enforcement Directorate has attached assets worth Rs 91.82 crore in a crackdown on illegal betting operations linked to Mahadev Online Book and Skyexchange.com. Key suspects used complex networks to launder funds generated from these platforms, with significant amounts being circulated through international channels and investments in Indian stock markets.

The Enforcement Directorate (ED) has announced the attachment of movable and immovable properties valued at Rs 91.82 crore, part of its extensive probe into illegal betting operations tied to Mahadev Online Book (MOB) and Skyexchange.com.

Authorities disclosed that the accused, Sourabh Chandrakar, Anil Kumar Agarwal, and Vikas Chhaparia, utilized these platforms to mask illegal earnings as legitimate investments. Significant assets worth Rs 17.5 crore linked to Gagan Gupta were also seized in connection to Hari Shankar Tibrewal, the owner of Skyexchange.com.

The ED's investigation has exposed a sophisticated network involving the laundering of proceeds through benami accounts, international hawala routes, and cryptocurrency, with millions moved through trade-based money laundering activities. The case has resulted in the attachment of Rs. 2,600 crores in assets and the arrest of 13 individuals.

(With inputs from agencies.)