ED raid in Mahadev betting app case
Mumbai: While investigating the Mahadev online book betting app case, the ED has conducted search operations at 17 locations in Kolkata, Gurugram, Delhi, Indore, Mumbai and Raipur. Sources said that during this search operation, cash worth Rs 1.86 crore and valuable clothes worth Rs 1.78 crore were recovered today. Along with this, proceeds of crime amounting to Rs 580.78 crore have been frozen. In this search operation, ED has found many incriminating evidences including large amount of digital data and ED has also identified several assets.
The operation was being conducted from Dubai.
Let you know that the ED had started the investigation based on the FIR registered by the Chhattisgarh Police. Subsequently, FIRs filed by Visakhapatnam police and other states were also taken on record. ED’s investigation revealed that ‘Mahadev Online Book’ is being operated from Dubai and is run by franchising “Panel/Branches” with a profit ratio of 70%-30% from them. Work is done. The investigation also revealed that the promoters of ‘Mahadev Online Book’ are also the promoters of other online betting books like “Ready Anna”, “Fair Play”. Not only this, the accused are conducting large-scale hawala operations to transfer the proceeds of betting to offshore accounts.
An illegal website was operating.
During the investigation, ED has identified other key players involved with the promoters of ‘Mahadev Online Book’. During investigation, ED learned that Harishankar Taberwal, a native of Kolkata, currently residing in Dubai, is a major hawala operator and partner of the promoter of ‘Mahadev Online Book’. The ED searched the premises of him and his accomplices and during the search it was found that Harishankar Tabrewal runs an illegal betting website “Sky Exchange”. He is investing the proceeds from speculation in the Indian stock market through Foreign Portfolio Investment (FPI) through his Dubai-based entities.
Assets worth crores were frozen.
The investigation has also revealed that the accused has appointed his colleagues as directors in many companies. In which the money gained from speculation is being used as a layer for investing in the stock market. Sources also said that Tabriwal was also involved in large-scale hawalat operations. For this reason, the ED froze security holdings of Rs 580.78 crore held by Tabriwal’s entities. Let it be known that earlier in this case, ED had seized/collected residential properties worth Rs.572.41 crore during searches. Two provisional attachment orders have been issued attaching residential and non-residential properties worth Rs 142.86 crore. Thus ED has frozen total assets worth Rs.1296.05 crore in this case.
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