New Delhi, Jan 13 (UNI) The Enforcement Directorate (ED), Raipur Zonal Office today said that they have attached movable and immovable properties totalling Rs. 21.45 crore in connection with the ongoing investigation into the illegal betting operations of the Mahadev Online Book (MOB).
The ED official said that attached assets include movable properties worth Rs. 98.55 lakh and 27 immovable properties including residential houses, commercial shops, agricultural land and luxury apartments located in India and Dubai, collectively worth Rs. 20.46 crore.
The ED initiated PMLA investigation on the basis of multiple First Information Reports registered by the Chhattisgarh, Andhra Pradesh, and West Bengal Police, revealed a massive betting syndicate. The platform provided illegal betting services through domain names such as Tiger exchange, Gold365, and Laser247. The operation functioned via a franchise model of “Panels/Branches” managed by associates, while the main promoters, Sourabh Chandrakar and Ravi Uppal, operated from Dubai.
Investigation deciphered that the promoters kept 70-75 percent of the total profits generated by these panels while the remaining was kept by the panel operators. The POC were layered through thousands of “mule” or “dummy” bank accounts opened using the KYC documents of unsuspecting individuals.
So far, ED has conducted searches at more than 175 premises in this case. As a result of the ongoing investigation, movable and immovable assets worth approximately Rs. 2,621 crore have been seized, frozen, or attached.
Further, ED has arrested 13 persons in the case, and 74 entities have been arraigned as accused in five Prosecution Complaints filed so far.
