According to sources, during the investigation of the Mahadev betting app case, the Enforcement Directorate (ED) discovered that the money earned through this betting was routed to Dubai via hawala channels
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The Enforcement Directorate (ED) on Wednesday carried out raids at 17 locations, including three in Mumbai, in connection with the Mahadev betting app case. According to sources, during the investigation of the Mahadev betting app case, the Enforcement Directorate (ED) discovered that the money earned through this betting was routed to Dubai via hawala channels, with a significant portion being sent to tax havens such as the British Virgin Islands, Curacao, and Vanuatu.
Sources within the ED revealed that these funds were converted into white money in tax haven countries and then reinvested in the Indian share market and various Indian companies. “It is estimated that approximately Rs 1000 crore, allegedly earned through betting and transferred abroad from India through hawala channels, has now been reinvested in India through Foreign Direct Investment (FDI),” an officer of ED said.
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During the investigation, ED unearthed several pieces of evidence and locations where these funds were being diverted. Consequently, this morning, ED deployed 17 teams for searches across Mumbai, Delhi, Kolkata, Raipur, and Madhya Pradesh at different locations. In Mumbai alone, searches are underway at three locations as part of this operation. ED is investigating various aspects of the Mahadev betting app case, particularly focusing on the allegations of FDI from tax haven countries to India by individuals associated with the app.
So far, nine accused have been arrested in this case. Among them are Neetish Diwan, close associate of the promoters of the Mahadev app; Nitin Tibarewal from Kolkata; Amit Agrawal from Raipur; alleged cash courier Aseem Das; police constable Bhim Singh Yadav; Assistant Superintendent Chandrabhushan Verma; Anil and Sunil Dammami, alleged "hawala" operators; and an individual identified as Satish Chandrakar. The main accused in this case, Saurabh Chandrakar, Ravi Uppal, and Shubham Soni, are still evading arrest by the ED. ED has issued red-corner notices against them. It is worth noting that all these accused are currently in Dubai.
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