On December 5, the Raipur regional office of the Enforcement Directorate issued a provisional attachment order under the Prevention of Money Laundering Act. They seized additional assets worth ₹387.99 crore related to the Mahadev Betting App case.
The seized properties include movable and immovable assets, with investments linked to Harishankar Tibrewal through Foreign Portfolio Investment and Foreign Direct Investment (FDI) by a Mauritius-based company, Tano Investment Opportunities Fund.
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These movable assets and immovable properties located in Chhattisgarh, Mumbai, and Madhya Pradesh are registered under the names of Mahadev Online Book promoters, panel operators, and their associates.
The Mahadev Online Book Betting App as a Gambling Platform
The ED's investigation reveals that the Mahadev Online Book Betting App offers an online platform for illegal betting websites to sign up new users, create user IDs, and conduct fund diversion through a network of fake bank accounts.
Initial Provisional Attachment Orders Issued
So far, ₹19.36 crore in cash and precious items worth ₹16.68 crore have been seized in the investigation. In addition, a total of ₹1729.17 crore in movable assets, including bank balances and securities, have been frozen. Previously, two provisional attachment orders had been issued for seizing properties worth ₹142.86 crore in the same case.
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Total Seizures Reaching ₹2295.61 Crore
In total, approximately ₹2295.61 crore of proceeds from criminal activities have been seized/frozen/attached in this case. To date, the ED has arrested a total of 11 individuals and filed four prosecution complaints in the PMLA Court. The investigation is ongoing.
