The ED investigation has shown that the Mahadev Online Book App is run from a central head office in the United Arab Emirates (UAE), officials said. It operates by franchising “Panel/Branches” to their known associates on a 70-30 profit ratio, the agency had said. The company promoted by Sourabh Chandrakar and Ravi Uppal was being operated from Dubai. It was allegedly using the online book betting application to enrol new users, create IDs and launder money through a layered web of benami bank accounts, the agency has alleged.

According to various reports, Sourabh Chandrakar had his humble beginning by being a juice vendor in Bhillai.

At his wedding held in Ras Al-Khaimah, Sourabh Chandrakar, one of the promoters of an online betting platform, hired private jets to ferry family members from Nagpur to the UAE and paid celebrities from the film industry to perform, according to the ED.

The agency released details of its investigation into the online money laundering case linked with the Mahadev Online Book Betting app.

Wedding planners, dancers, decorators etc, were hired from Mumbai and hawala channels were used to make payments in cash.

“Sudden and illegal riches are being openly flaunted by them,” the ED said in a statement.

A Prevention of Money Laundering Act (PMLA) special court at Raipur has also issued non-bailable warrants against the suspects.

The ED which is investigating money laundering charges in connection with the Mahadev Online Book app had last month conducted searches in Chhattisgarh and arrested four accused including the chief liaisoner of the betting syndicate, which the probe agency alleged was organizing payment of bribes to senior government functionaries as ‘protection money.’

“Their Mahadev Online Book is run from a central head office in UAE and operates by franchising ‘Panel/Branches’ to their known associates on 70 per cent-30 per cent profit ratio. Large-scale hawala operations are done to siphon off the proceeds of betting to off-shore accounts. Large expenditure in cash is also being done in India for advertising of betting websites and self-grandizement necessary to attract new users and franchise (panel) seekers,” the ED said.

As per assets seized by the ED, ₹112 crore was delivered via hawala channel to an event management company — R-1 Events Pvt Ltd of Yogesh Popat — and hotel bookings costing to the tune of ₹42 crore were done by paying in cash in Arab Emirates Dirham.

The searches resulted in the seizure of unaccounted cash of ₹2.37 crore. It was found that many celebrities have been endorsing these betting entities and performing at their functions in return for hefty fees layered through dubious transactions but ultimately paid from the proceeds of online betting.

This entity was responsible for the entire ticketing operations of the Mahadev app promoters, family, business associates, and celebrities.

“The illicit cash earnings from the betting panels were cleverly deposited by the Ahuja brothers with main ticket providers, and the wallet balance was used to book domestic and international tickets. Rapid Travels was involved in making travel arrangements for most events of the Mahadev group including the annual star-studded events organized in UAE in the month of September,” the ED said.

ED stated that it has successfully identified other major players involved in the money laundering operations of the Mahadev online booking app.

*With Agency Inputs

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Updated: 05 Oct 2023, 09:49 PM IST