Home Tax News Mahadev betting scam: ED freezes assets of hawala-operator worth Rs 580 cr | India News – Business Standard

Mahadev betting scam: ED freezes assets of hawala-operator worth Rs 580 cr | India News – Business Standard

0
Mahadev betting scam: ED freezes assets of hawala-operator worth Rs 580 cr | India News – Business Standard


After multiple raids launched across the country on February 28, the Enforcement Directorate (ED) has frozen security holdings worth more than Rs 580 crore of a Dubai-based “hawala operator”, in the Mahadev app-linked money laundering case. It includes cash and valuables worth Rs 3.64 crore.

On February 28, various premises in Kolkata, Gurugram, Delhi, Indore, Mumbai and Raipur were raided by the ED.


The ED probe in the Mahadev online gaming and betting app has indicated the purported involvement of various high-ranking politicians and bureaucrats from Chhattisgarh.


A report by news agency PTI said the agency identified a “hawala operator”, Hari Shankar Tibrewal in this case. He hails from Kolkata but currently resides in Dubai. He partnered with the promoters of the Mahadev app and also owned and operated an alleged illegal betting app — skyexchange.


Security holdings worth Rs 580.78 crore “beneficially owned” by Tibrewal have been frozen by the ED under the provisions of the Prevention of Money Laundering Act (PMLA), they said.


Cash worth Rs 1.86 crore and valuables worth Rs 1.78 crore were recovered by the agency during these searches. So far, the ED has arrested nine people in this case.


The agency had earlier said that the alleged illegal funds generated by the Mahadev app were used to pay bribes to politicians and bureaucrats in Chhattisgarh, from where the main promoters and operatives of the app hail.


So far, the ED has filed two charge sheets in this case, including against the two main promoters of the alleged illegal betting and gaming app Sourabh Chandrakar and Ravi Uppal. It had conducted multiple raids in the case earlier.


The projected proceeds of crime in this case are about Rs 6,000 crore, according to the ED.


(With PTI inputs)

First Published: Mar 01 2024 | 12:53 PM IST

LEAVE A REPLY

Please enter your comment!
Please enter your name here