Mahadev Betting App scam: Mastermind Saurabh Chandrakar booked in UAE
- In Reports
- 01:06 PM, Oct 11, 2024
- Myind Staff
Saurabh Chandrakar, who was accused of being the leader in the scam connected to the online betting platform Mahadev Book, has reportedly been arrested in the UAE for money laundering charges. He was allegedly involved in money laundering and manipulating the outcomes of major cricket matches and tournaments in India using the Mahadev app.
According to reports, the Enforcement Directorate (ED) is expected to submit a formal request for his extradition from the UAE shortly. The Mahadev app was blocked by the Ministry of Electronics and Information Technology (MeitY) last year due to claims that many individuals had been conned out of almost INR 15,000 crores using the gambling app.
Users of the gambling app, allegedly operated by Dubai-based Chandrakar and Ravi Uppal, could place real-time wagers on a variety of sports, such as football, tennis, and cricket. At its height, the app boasted nearly 10 million users. Nonetheless, the ED's probe found that the app was being used to launder money through "hawala" transactions—dubious banking practices—between India and Dubai. An estimated INR 20,000 Cr of the crime's proceeds were smuggled into the stock market using fictitious bank accounts and dummy accounts, out of which INR 1,100 Cr were diverted.
According to the ED's investigation into the Mahadev online gambling and betting app, a number of prominent Chhattisgarh politicians and bureaucrats were reportedly involved in the scandal. Bhupesh Baghel, the former chief minister of Chhattisgarh, along with a number of other officials and politicians was previously accused of accepting bribes totalling more than INR 500 Cr from the app's primary promoters and operators.
Following news of Chandrakar's extravagant wedding celebration in the United Arab Emirates in February of last year, the Enforcement Department launched an investigation into the Mahadev betting app scam. At least six Indian celebrities received payment to perform at the wedding, which had an estimated cost of INR 200 Cr. Chandrakar hired private jets to transport his Indian relatives.
Subsequently, in connection with the money laundering case connected to the Mahadev Book app, the probe agency reportedly arrested nearly a dozen people and froze funds worth over INR 1,700 Cr.
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