Mahadev Betting App: ED Action in Mahadev App Scam; A lot of ‘so much’ property was seized, including a villa in Burj Khalifa

• ED big action in Mahadev app case
• 1700 crore property of Saurabh Chandrakar seized
• So far the seizure has reached 4300 crores

Mahadev Betting App: Mahadev App In a major crackdown in the money laundering case, the Enforcement Directorate (ED) has seized assets worth Rs 1,700 crore belonging to prime accused Saurabh Chandrakar. These properties include expensive villas and houses in Dubai’s Burj Khalifa. Saurabh Chandrakar is currently in Dubai. ED has so far seized assets worth Rs 4,300 crore in the case. Earlier, in January, the ED had launched a major crackdown against illegal betting networks linked to Mahadev Online Book and SkyExchange.

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As part of the action, the ED had provisionally attached movable and immovable assets worth Rs 91.82 crore under the Prevention of Money Laundering Act (PMLA). The operation also included seizure of bank deposits of over Rs 74.28 crore in the accounts of two Dubai-based companies. These included Perfect Plan Investments LLC and Exim General Trading. It has been revealed that the accused in question presented the gambling money as legitimate.

Regarding the action, the ED said that Mahadev App and SkyExchange companies associated with Saurabh Chandrakar, Anil Kumar Aggarwal and Vikas Chhaparia were used to launder money earned from illegal gambling. Not only this, the ED has attached properties worth Rs 17.5 crore in the name of Gagan Gupta and his family. Gagan Gupta is said to be close to SkyExchange owner Hari Shankar Tibrewal. According to the ED, these expensive properties and liquid assets were bought with ill-gotten gains.

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ED’s investigation revealed that thousands of crores of black money was generated through several illegal betting apps and websites like Mahadev Online Book and SkyExchange. Mahadev Online Book App was created to expose customers to various illegal betting apps and handle all their financial transactions. According to the investigating agency, these websites and apps were deliberately manipulated, to the ultimate detriment of consumers. Crores of rupees were collected from individuals and distributed according to a fixed share formula.