Raipur
Raipur Enforcement Directorate has taken major action in the money laundering case related to the famous Mahadev online speculative app of Chhattisgarh. The investigating agency raided the 7 major cities of Delhi, Mumbai, Indore, Ahmedabad, Chandigarh, Chennai and Sambalpur in Odisha and seized documents by freezing securities/bonds/demat accounts worth Rs 576.29 crore. This includes Rs 3.29 crore cash.
The ED investigation has also revealed that the connection of this entire network is related to some leaders of Delhi. Black earnings were sent from Chhattisgarh to Delhi through hawala. It was also found that the money earned from betting was invested in foreign investment and stock market through Mauritius and Dubai’s fake FPI (Foreign Portfolio Investors), leaving the common investors to be imposed by artificial ups and downs of shares of small and midcap companies.
ED’s X post regarding action
According to officials, it is one of the biggest actions ever in money laundering cases. The ED, the leaders of Delhi, who have received connections, have started an investigation against them.
3002.47 crore movable and immovable property attached
According to the information received from the ED, in the investigation of the seized documents and electronic devices, the inputs of running the syndicate of Messrs Mahadev online book betting app have been found. For this, betting arranges online platforms to enable websites to enable new users, enabling IDs.
A large amount of crime income (POC) has been found during the search. Let us know that in the Mahadev Satta case, the ED has raided more than 170 campuses and has attached movable and immovable property worth about Rs 3002.47 crore. Also, 13 people associated with this syndicate have been arrested. At the same time, after investigating the case, 74 institutions have been accused in 5 prosecution complaints.
