Raipur
ED has taken major action in the Mahadev online betting app case. On Saturday, ED attached assets worth Rs 388 crore in the Mahadev online book case. ED has taken this action under the Prevention of Money Laundering Act (PMLA). The attached property is both movable and immovable. All these properties are present in Chhattisgarh, Mumbai, Madhya Pradesh and Mauritius.
Giving information about this case, ED said that the attached movable assets were invested in FPI and FDI by Mauritius-based company Tano Investment Opportunities Fund through Harishankar Tibrewal. ED said that all these properties are in three different states and some abroad. All these properties are registered in the name of the promoters and panel operators of many betting apps and websites along with their associates.
The seized assets include movable and immovable properties, including investments made by Mauritius-based company, Tano Investment Opportunities Fund through foreign portfolio investment and foreign direct investment (FDI) belonging to Hari Shankar Tibrewal.
These movable properties and immovable properties located in Chhattisgarh, Mumbai and Madhya Pradesh are in the name of promoters, panel operators and associates of promoters of Mahadev Online Book.
Mahadev Online Book Betting App is a betting platform
ED investigation has revealed that Mahadev Online Book Betting App provides online platform to illegal betting websites to sign up new users, create user IDs and siphon off funds through a network of multi-layered fake bank accounts.
First two temporary attachment orders issued
Cash worth Rs 19.36 crore and valuables worth Rs 16.68 crore have been seized so far in the investigation of the case. Apart from these, movable assets worth a total of Rs 1729.17 crore in the form of bank balances and securities have also been frozen. Earlier, two temporary attachment orders had been issued to seize properties worth Rs 142.86 crore in the same case.
Assets worth Rs 2295.61 crore seized so far
Thus, total proceeds of crime amounting to Rs 2295.61 crore (approximately) have been seized/frozen/attached in this case. During the investigation, the ED has so far arrested a total of 11 people and filed four prosecution complaints in the PMLA court. Further investigation is going on in the matter.
