The Directorate of Enforcement (ED) is looking into M/s Mahadev Online Book Betting APP, a collective syndicate that sets up websites so that illicit betting websites may sign up new users, generate user IDs, and launder money through a complex network of benami bank accounts. Recently, the ED searched extensively for the money-laundering networks connected to the Mahadev APP in places like Kolkata, Bhopal, Mumbai, etc. They found a lot of evidence that was damning and they have frozen or confiscated criminal profits totalling Rs 417 Crore.
According to an inquiry by the ED into the case, Sourabh Chandrakar and Ravi Uppal, who are from Bhilai, Chhattisgarh, are the company’s principal proprietors and operate Mahadev Online Book out of Dubai. Their M/s Mahadev Online Book is managed from a central head office in the United Arab Emirates, and it works by franchising “Panels/Branches” to its well-known partners on a profit margin of 70% to 30%. Large-scale hawala operations are carried out to divert gambling winnings to offshore accounts.
Additionally, India spends a lot of money on self-promotion and advertising for betting websites in order to draw in new customers and franchise (panel) aspirants. The Chief Liaisoner of this betting syndicate, which was organising the payment of bribes to top government workers as “protection money,” was one of the four accused people who were detained by the ED after previous searches were done in the state of Chhattisgarh.
During an extensive investigation, the Enforcement Directorate (ED) carried out searches in multiple locations across Bhopal, Mumbai, and Kolkata, unearthing a web of financial irregularities. Notably, Sourabh Chandrakar and Ravi Uppal had amassed significant wealth in the UAE, conspicuously flaunting their newfound riches. In February 2023, Chandrakar’s extravagant wedding in RAK, UAE, orchestrated by the Mahadev APP promoters, saw an astonishing Rs 200 Crore spent in cash.
Private jets were chartered to transport family members from Nagpur, and celebrities were hired for the event, with expenses paid through hawala channels. Digital evidence revealed Rs 112 Crore routed to M/s R-1 Events Pvt Ltd and Rs 42 Crore in cash spent on AED-based hotel bookings. ED’s scrutiny extended to Yogesh Popat’s premises, where evidence of Rs 112 Crore in hawala money was uncovered, leading to a subsequent search on the named angadias and a seizure of Rs 2.37 Crore in unaccounted cash.
It was further revealed that celebrities had been endorsing betting entities and participating in functions funded by online betting proceeds. ED’s investigation also encompassed M/s Rapid Travels, responsible for ticketing operations for Mahadev APP, its associates, and endorsing celebrities.
The Ahuja brothers cleverly channelled illicit betting earnings into ticket providers. Lastly, the ED identified key players in the Mahadev Online Book APP’s money laundering operations. Vikash Chhaparia, based in Kolkata, oversaw hawala operations, and searches revealed significant investments in the Indian stock market through entities like M/s Perfect Plan Investments LLP, M/s Exim General Trading FZCO, and M/s Techpro IT Solutions LLC. The ED froze cash derivatives and security holdings worth Rs 236.3 Crore linked to Chhaparia and assets worth Rs 160 Crore in DEMAT holdings of Govind Kumar Kedia under PMLA 2002. Additionally, searches at Kedia’s premises led to the seizure of Rs 18 Lacs in Indian currency and Gold and jewellery valued at Rs 13 Crore.
across all, 39 sites across Raipur, Bhopal, Mumbai, and Kolkata have been searched by ED, and illicit assets worth Rs 417 Crore have been recovered. Additionally, ED has seriously begun conducting research abroad. Additionally, the absconding suspects have been handed NBWs by the Honourable PMLA Special Court in Raipur. Further research is now being conducted.
