In a major crackdown on the Mahadev Online Book betting app, the Enforcement Directorate (ED) has frozen or seized assets worth Rs 417 crore. This move comes after extensive searches at 39 locations across different parts of India as part of the ongoing investigation into the illegal betting operation.
The Mahadev Online Book app, which served as an umbrella syndicate, facilitated the functioning of illegal betting websites by enrolling new users, creating user IDs, and laundering money through a complex network of "benami" bank accounts.
Operating from Dubai, the main promoters of the app, Saurabh Chandrakar and Ravi Uppal, allegedly franchised panels/branches to known associates, sharing profits on a 70%-30% ratio. To siphon off the proceeds of betting, large-scale hawala operations were carried out, and substantial cash expenditures were made in India for advertising purposes to attract new users and franchise seekers.
The ED's recent actions have brought to light the money laundering networks associated with the Mahadev Online Book app, with searches conducted in Kolkata, Bhopal, and Mumbai. Chandrakar and Uppal, who hail from Bhilai in Chhattisgarh, were identified as the primary promoters of the app and were found to be running their operations from Dubai, UAE.
One of the shocking revelations is the extravagant wedding ceremony of Saurabh Chandrakar in RAK, UAE, in February 2023. The promoters of the Mahadev app reportedly spent a staggering Rs. 200 crore in cash for the wedding. Private jets were hired to transport family members from Nagpur to the UAE, and a plethora of celebrities were hired to perform at the event.
Digital evidence collected by the ED indicates that ₹112 crore was funnelled through hawala channels to an events management company named M/s R-1 Events Pvt. Ltd., owned by Yogesh Popat. Additionally, hotel bookings amounting to ₹42 crore were paid for in cash using UAE Dirhams.
The agency also uncovered the involvement of other organizers and hawala operators in facilitating the participation and performances of celebrities at the wedding event. M/s R-1 Events Pvt. Ltd. was responsible for coordinating the celebrities' involvement and managing various logistical arrangements.
Further investigation led the ED to Rapid Travels in Bhopal, which handled all ticketing operations for the Mahadev app promoters, their family members, business associates, and endorsing celebrities. The Ahuja brothers allegedly deposited cash earnings with the main ticket providers, using wallet balances to book domestic and international tickets for various Mahadev Group events.
The agency also uncovered the involvement of Kolkata-based Vikash Chhaparia, who handled hawala-related operations for the app. It was found that Chhaparia and his associates invested heavily in the Indian stock market through entities like Perfect Plan Investments LLP, Exim General Trading FZCO, and Techpro IT Solutions LLC. The ED has frozen assets totalling ₹236.3 crore in the names of entities beneficially owned by Vikash Chhaparia and ₹160 crore in DEMAT holdings of Govind Kumar Kedia associated with the operation.
The ED has initiated investigations abroad, and the PMLA Special Court in Raipur has issued non-bailable warrants against the absconding accused. The Mahadev Online Book app, described as an umbrella syndicate, played a central role in providing online platforms for illegal betting websites and money laundering operations. The ED's actions aim to unravel the layers of this intricate web of financial irregularities and bring the culprits to justice.
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