Enforcement Directorate Cracks Down on Mahadev Betting Scam

The Enforcement Directorate seized Rs 92 crore in assets tied to the Mahadev online betting app. Key figures, including Sourabh Chandrakar, are allegedly involved, with illegal proceeds laundered via intricate financial networks. Extradition efforts are underway for the main suspects in this high-profile case.

In a crackdown on illegal betting operations, the Enforcement Directorate (ED) announced the seizure of assets worth Rs 92 crore. This includes properties and bank deposits tied to the Mahadev online betting app scam, which allegedly involves top politicians and bureaucrats from Chhattisgarh.

The ED's probe under the Prevention of Money Laundering Act (PMLA) has led to the attachment of bank deposits exceeding Rs 74.28 crore associated with entities like Perfect Plan Investment LLC and Exim General Trading - GZCO, linked to key suspects Sourabh Chandrakar, Anil Kumar Agarwal, and Vikas Chhaparia.

Chandrakar and others are accused of orchestrating an intricate scheme to launder proceeds through complex networks, including benami bank accounts. The illicit funds were reportedly funneled through hawala channels and invested back into the Indian stock market under the guise of foreign portfolio investments.

(With inputs from agencies.)