The Raipur Enforcement Directorate had arrested Girish Talreja on March 2 and Suraj Chokhani on March 3
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The Enforcement Directorate has arrested two more people in the Mahadev Online Book-linked money laundering case, an official said on Friday. The Raipur Enforcement Directorate had arrested Girish Talreja on March 2 and Suraj Chokhani on March 3.
A special Prevention of Money Laundering Act (PMLA) court has sent them to ED custody till March 11.
"ED, Raipur has arrested Girish Talreja on 02.03.2024 & Suraj Chokhani on 03.03.2024 under the provisions of PMLA, 2002 for their role in the money laundering activities associated with Mahadev Online Book case. The arrested accused were produced before the Hon'ble PMLA Special Court, Raipur who has granted the accused person to ED Custody for 7 days till 11.03.2024," ED said in a statement.
Earlier, the Enforcement Directorate had seized Rs 580.78 crore in assets related to the Mahadev Online Book Betting app case, asserting that its activities are being operated from Dubai.
The ED's action occurred as the agency conducted raids at 15 locations targeting individuals suspected of involvement in money laundering networks associated with Mahadev Online Book in Kolkata, Gurugram, Delhi, Indore, Mumbai, and Raipur.
During the operation, the ED said it retrieved cash worth Rs 1.86 crore, valuables worth Rs 1.78 crore and also frozen and identified proceeds of crime worth Rs 580.78 crore. The searches also resulted in the seizure of a large amount of incriminating evidence, including digital data and the identification of assets.
The agency is investigating a case against "Mahadev Online Book", which is an umbrella syndicate arranging online platforms for enabling illegal betting websites to enrol new users, create user IDs and launder money through a layered web of Benami bank accounts.
The ED initiated an investigation on the basis of First Information Reports (FIRs) registered by Chhattisgarh Police. Subsequently, other FIRs registered by Visakhapatnam Police and other states were also taken on record.
An ED investigation into the matter has revealed that "the operations of Mahadev Online Book are being run from Dubai and it operates by franchising 'panel and branches' to their known associates on a 70 per cent to 30 per cent profit ratio."
"The main promoters of Mahadev Online Book are also partners and promoters in multiple such online betting books like 'Reddy Anna' and 'Fairplay'. Large-scale hawala operations are done to syphon off the proceeds of betting proceeds to off-shore accounts," said the agency.
In the course of further investigation, the ED successfully identified other major players involved with the promoters of Mahadev Online Book.
"It was found that one Hari Shankar Tibrewal, who hails from Kolkata but is currently residing in Dubai, is a huge hawala operator and has partnered with the promoters of Mahadev Online Book. ED conducted searches at his known premises and at the premises of his associates. The searches revealed that Hari Shankar Tibrewal owned and operated one of the illegal betting websites, such as SkyExchange.
"He, through his Dubai-based entities, was investing the betting proceeds in the Indian Stock market by way of the Foreign Portfolio Investment (FPI) route. He had also employed many of his associates as Director in various companies which were involved in layering of the betting proceeds by investing them in the stock market. He was also involved in large-scale hawala movement of the betting funds," said the ED.
Accordingly, security holdings worth Rs 580.78 crore in the name of the entities beneficially owned by Hari Shankar Tibrewal have been frozen by ED under PMLA 2002.
Earlier in this case, movable properties totalling Rs 572.41 crore were seized and frozen during searches conducted under the PMLA, 2002. Two provisional attachment orders have been issued, attaching movable and immovable properties valued at Rs 142.86 crore.
Prosecution complaints dated October 20, 2023, and January 1 of this year have been filed in the case. Nine accused have already been apprehended in connection with the case. Thus, total attachment and freezing in the case stand at Rs 1,296.05 crore.
The move comes almost a month after the federal agency arrested two individuals, Nitin Tibrewal from Kolkata and Amit Agrawal from Raipur. Both accused were arrested in the second week of January.
Earlier, the ED had arrested alleged accused Asim Das, Bheem Singh Yadav, Chandrabhushan Verma, Anil Kumar Agrawal, Sunil Dammani, and Satish Chandrakar. The agency stated that the illicit funds generated by the app were used to bribe politicians and bureaucrats.
In November last year, the ED had also conducted searches against the money laundering networks linked with the alleged Mahadev Book Online Betting App, which led to the recovery of cash worth Rs 5.39 crore and a bank balance of Rs 15.59 crore.
Several celebrities and Bollywood actors have also been summoned by the agency for questioning regarding their connections with the online betting platform and the payment methods involved.
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