New Delhi: On Friday, The Enforcement Directorate (ED) has frozen and seized assets worth Rs 417 crore in connection with the Mahadev Online Betting Scam. Officials gave this information on Friday. According to ED, Saurabh Chandrakar and Ravi Uppal promote the Mahadev app. This company is operated from Dubai.
New Delhi: On Friday, The Enforcement Directorate (ED) has frozen and seized assets worth Rs 417 crore in connection with the Mahadev Online Betting Scam. Officials gave this information on Friday. According to officials, the ED recently conducted a massive search operation against the money laundering network linked to Mahadev APP in cities like Kolkata, Bhopal and Mumbai.
According to ED, Saurabh Chandrakar and Ravi Uppal promote the Mahadev app. This company is operated from Dubai. During this period a large amount of incriminating evidence was obtained. ED freezes/seized crime proceeds of Rs 417 crore. Officials said that ED’s investigation has revealed that Mahadev Online Book App is run from the United Arab Emirates (UAE). It operates by giving franchise of ‘panels/branches’ to its associates at a 70-30 percent profit ratio.
Hawala operations are carried out on a large scale to transfer betting proceeds to foreign accounts. Not only this, huge amounts of cash are also being spent in India to advertise betting websites to attract new users and franchise (panel) seekers.
The promoters of the company are residents of Bhilai, Chhattisgarh. Mahadev Online Book Betting Application is a leading syndicate arranging online platforms for illegal betting websites.
