Mahadev Betting Scam: ED Puts Alleged Crime Proceeds at Rs 92,000 Crore, Seeks to Trace Political and Official Links

Raipur: The Enforcement Directorate (ED) has placed the estimated proceeds of crime in the Mahadev online betting investigation at nearly Rs 92,000 crore, dramatically higher than the approximately Rs 11,000 crore estimated when the case first came under scrutiny in 2023.

The agency disclosed the revised assessment before a special Prevention of Money Laundering Act (PMLA) court in Raipur on Friday while seeking the custodial interrogation of Saurabh Chandrakar, alleged to be one of the principal architects of the betting network.

According to the ED, the illegal operation has not been dismantled and continues to generate substantial money.

Investigators believe that the scale of financial transactions has expanded considerably despite years of investigation and enforcement action.

The Mahadev platform alone is estimated to have generated illegal proceeds ranging between Rs 75,000 crore and Rs 80,000 crore.

The agency has separately assessed the suspected earnings associated with Skyexchange.com at Rs 11,000-12,000 crore and Lotus365.com at approximately Rs 2,400 crore.

The latest estimates indicate that the alleged financial scale of the operation grew substantially even after the ED submitted its first prosecution complaint, equivalent to a chargesheet, on October 20, 2023.

Since then, the agency has filed five additional prosecution complaints, naming more than 100 accused.

It has also attached assets, both movable and immovable, in India and overseas, with an estimated combined value of Rs 9,000 crore.

Chandrakar agrees to ED custody

Chandrakar was brought before the special PMLA court in Raipur on Friday after being extradited from Oman earlier this month through the intervention of the Central Bureau of Investigation (CBI).

The ED requested permission to interrogate him for seven days, a request that was accepted. His lawyer, Tushar Giri, said the defence had agreed to the remand and intended to cooperate with investigators so that the facts of the case could emerge.

Before the ED took over his interrogation, Chandrakar had spent eight days in CBI custody. He was subsequently sent to judicial custody, following which the financial investigation agency approached the court for his remand.

The ED wants to use the interrogation to uncover the alleged network of influential individuals who helped the betting operation function.

Among the issues it intends to investigate are suspected payments to police personnel, government officials and politicians in exchange for protection and assistance in keeping the illegal business running.

Dubai-based operation and its nationwide reach

Investigators allege that Chandrakar and another key accused, Ravi Uppal, shifted their base outside India in 2022 and established the principal headquarters of their operation in Dubai.

The two allegedly recruited more than 100 young people from Chhattisgarh to assist in managing different aspects of the business.

Their model reportedly relied on a franchise arrangement under which local operators ran betting activities in different parts of India through the Mahadev Online Book network.

The platform allegedly facilitated wagering on sporting competitions and electoral contests, creating a large network of online betting operations.

The scale of the business first attracted widespread public attention in February 2023, when photographs and videos of Chandrakar’s extravagant wedding in Dubai circulated widely.

The celebrations were reportedly worth more than Rs 200 crore and attracted several personalities from the Bollywood film industry.

Chhattisgarh political controversy added another dimension

The investigation acquired a political dimension shortly before the 2023 Chhattisgarh Assembly elections.

Shubham Soni, another prominent accused who is currently detained in Dubai in connection with a money-laundering investigation, released a video alleging that he had transferred a substantial amount of money to then Chief Minister Bhupesh Baghel.

The video was subsequently circulated by the BJP through its official media platform, turning the allegations into a major political issue during the election campaign.

Baghel rejected the accusations and countered that the BJP itself had received money to facilitate the betting business. He maintained that his administration had taken action against the network and its operators.

The competing allegations made the Mahadev investigation a significant political controversy in the state, with the question of alleged political protection becoming one of its most contentious aspects.

Multiple betting brands allegedly used to expand business

According to police sources in Chhattisgarh, the operation began around 2017 but experienced a substantial increase in its user base during the Covid-19 pandemic in 2020.

Investigators have linked the network to several other betting identities and online platforms, including Laser247, Bethbhai, Betbook247, Tigerexch247 and Cricketbet9.

Games involving cricket, tennis, football and badminton were among the activities on which users could place wagers.

The alleged network also expanded into card games and casino-style online formats, including Teen Patti, Poker and Dragon Tiger.

Investigators further suspect that the syndicate acquired the Reddy Anna platform and had joint ownership interests in Fair Play.

Its promotional activities allegedly relied heavily on private WhatsApp and Telegram groups, along with Facebook pages, to attract customers and circulate betting links.

Police sources have alleged that the operators manipulated gaming outcomes to retain an estimated 70 to 75 per cent of the money wagered. The network is suspected of generating around Rs 450 crore every month.

Suspected financial laundering through bank accounts and hawala

The ED’s investigation has also focused on how the betting network allegedly concealed and transferred its earnings.

According to the allegations, bank accounts were opened using identity documents belonging to economically vulnerable individuals who were either unaware of the transactions or were misled into allowing their details to be used.

Money collected through betting was allegedly moved through several layers of bank accounts before being transferred overseas.

Investigators suspect that the arrangements were designed to conceal the actual beneficiaries and keep the proceeds outside the formal tax system.

The syndicate is also accused of using hawala channels operated by intermediaries in Mumbai and Gujarat to move funds abroad.

The latest developments have placed renewed attention on the international financial trail behind the Mahadev betting business.

With Chandrakar now available for interrogation by the ED, investigators are expected to examine the network’s financial structure, its alleged political and administrative connections, and the identities of those who benefited from the operation.