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UAE authorities arrested Saurabh Chandrakar, the mastermind of the Mahadev Online Book Scam, on money laundering charges. The ED is tracing his repatriation. The scam, which involved laundering through the app’s operations, attracted the attention of multiple investigative agencies.
UAE officials have arrested Saurabh Chandrakar, the alleged mastermind of the multi-crore Mahadev Online Book scam, on charges of money laundering.
A formal extradition request is expected from the Enforcement Directorate soon. The investigating agency was informed about the arrest on Thursday, sources added further.
The proceeds of crime (PoC) have been pegged at Rs 10,000 crore with the amount put at twice that if an all-India estimate is made. PoC under money laundering is used to define tainted gains generated through illegal activities covered under the Prevention of Money Laundering Act (PMLA).
Large-Scale Money Laundering through Benami Accounts
In an ongoing investigation, the Enforcement Directorate (ED) has uncovered a massive money laundering racket linked to the Mahadev betting app. Earlier this year, the ED discovered that numerous accounts were being used to launder significant sums of money through the app’s operations, with approximately ₹1,100 crore channeled into the Indian stock market. Investigators estimate that the scam involves thousands of SIM cards and other sophisticated means of evading detection, hinting at a sprawling illegal operation with far-reaching implications.
A Complex Web of International Operations
The Mahadev betting app, operated by its promoters Saurabh Chandrakar and Ravi Uppal, has attracted the attention of multiple law enforcement agencies. Based in Dubai, the duo allegedly runs an international syndicate providing platforms for illegal betting websites and money laundering. The international nature of their operations, combined with the extensive use of benami (proxy) accounts, has posed significant challenges for Indian authorities in their efforts to bring the key players to justice. The case has emerged as one of the largest illegal betting and money laundering schemes in recent memory, highlighting the complexity and reach of such networks.
Lavish Wedding Exposes Further Corruption
Further fueling controversy, the ED’s charge sheet claims that Saurabh Chandrakar hosted a lavish wedding in Ras Al Khaimah, UAE, in February 2023. Allegedly, the event cost a staggering ₹200 crore, all paid for in cash. The scale of the event, complete with private jets hired to transport Chandrakar’s relatives from India to the UAE, has drawn considerable attention. Bollywood celebrities were also reportedly paid large sums to perform at the wedding, raising suspicions about the methods of payment and the possible involvement of high-profile individuals in the scam.
Connections to Politicians and Bureaucrats
The ED has further alleged that the illegal funds generated by the Mahadev betting app were funneled to politicians and bureaucrats in India. These bribes were purportedly aimed at securing protection for the app’s illegal operations. In a significant development, several prominent Bollywood actors and celebrities have been summoned by the ED for questioning regarding their potential connections to the online betting platform. Authorities are probing whether these celebrities knowingly accepted payments derived from the illegal proceeds of the app.
Challenges in Bringing Promoters to Justice
Despite the mounting evidence, the international nature of the operation has complicated efforts to apprehend Chandrakar and Uppal. Since the duo operates from Dubai, cross-border legal hurdles have slowed the investigation, though Indian agencies are actively pursuing diplomatic and legal channels to bring them to trial. The ED’s investigation is ongoing, and as more details emerge, the case is expected to have far-reaching ramifications, not only for those directly involved but also for the broader world of illegal online betting and financial crime.
Wider Implications for India’s Legal System
The Mahadev betting app scandal is not just a story of money laundering and illegal betting; it also highlights larger systemic issues within India’s financial and political framework. The involvement of high-profile individuals, along with the sophisticated methods used to evade detection, underscores the need for stronger regulatory mechanisms to prevent such schemes from flourishing. Authorities are expected to implement more stringent measures to crack down on illegal betting and financial fraud in the wake of this case, as they work to bring the culprits to justice.
