The Central Bureau of Investigation (CBI) has arrested Abhishek Kumar, a key accused in the Mahadev online betting and gambling case, after he was deported from the UAE.
The Enforcement Directorate (ED) has alleged that those involved in the illegal betting network have generated and laundered proceeds of crime exceeding Rs 94,000 crore.
Kumar was taken into CBI custody after arriving at Hyderabad airport from Dubai. Investigators allege that he was closely associated with the main accused, Saurabh Chandrakar and Shubham Soni, who are accused of continuing to operate the gambling network from the UAE and other jurisdictions.
According to a CBI spokesperson, Kumar coordinated various panels within the Mahadev network and was responsible for collecting funds and acquiring immovable properties in Dubai using alleged proceeds of crime.
He was subsequently taken to Raipur and produced before a special court, which granted police custody.
Seven Red Corner Notices and two extradition requests are reportedly pending against other accused in the case.
ED estimates Rs 94,000 crore in proceeds of crime
The Mahadev online betting and gambling operation remains active, according to the ED, which has alleged that the network has generated around Rs 94,000 crore in proceeds of crime.
In its latest chargesheet, the agency said more than Rs 1,000 crore had been invested in Indian share markets through foreign portfolio investments (FPIs).
The ED has estimated that the accused generated more than Rs 11,000 crore annually through illegal online gambling and betting activities.
Based on an analysis of seized digital evidence and statements from several accused, the agency estimated that approximately Rs 11,400 crore in proceeds of crime may have been generated by the Mahadev online betting operation each year.
The gambling network has allegedly been operating since 2019.
According to the ED’s latest findings, the Mahadev app continues to operate a large number of betting panels. The agency has estimated that the app generated around Rs 75,000-80,000 crore in proceeds of crime over the past seven years.
The agency has also alleged that other illegal betting platforms operated by the syndicate, including Skyexchange.com and Lotus365.com, generated more than Rs 14,000 crore in proceeds of crime.
“A majority of the proceeds of crime was layered and transferred to the promoters based in Dubai,” the ED stated.
Assets worth more than Rs 2,000 crore attached
The ED has so far attached assets worth more than Rs 2,000 crore allegedly linked to various accused in the case.
The agency has cautioned that its estimate of the proceeds of crime is provisional and could increase as the investigation progresses.
