The Enforcement Directorate (ED) investigating the case of online betting app, Mahadev, investigation has found that a company called Sportsbuzz was set up in their name in Dubai. This company was used by the founder of Mahadev app Sourabh Chandrakar to sponsor the award company, IIFA.
The charge sheet further throws light on the operations of Chandrakar and his partner Ravi Uppal at Dubai and how the two were trying to expand from online betting app to other businesses, including share market, real estate and jewellery.
The charge sheet mentions that Chandrakar had purchased a shop in the name of Anil
Dammani/Sunil Dammani, near their jewellery shop Abhushan Jewellers.
How were the operations taking place in Dubai?
The investigation has revealed that there are more than 3,200 panels which generate around Rs 40 crores per day. The promoters of Mahadev Online Book had rented 20 villas in Dubai to accommodate its staff of 3,500 persons. The expenses incurred in food, lodging, medicine, travel and visa of these staff were borne by promoters.
Also, to maintain secrecy, employees of panel operators were expected to deposit their passport, and request for its return when they wanted to return to India.
The salary given to those working for the app were transferred from the bank accounts of the panel operators or from the bank accounts used in the betting app of Mahadev Book.
Chandrakar had also formed a company named M/s Perfect Plan Investment LLC in Dubai and had purchased properties through it. The earning out of the online betting operations were being utilized by the promoters in purchase of these assets.
Chandrakar had also purchased other benami assets out of his earnings from the betting
business. The charge sheet mentions that Chandrakar had purchased a villa for AED 85,00,000 in his name and later sold it.
How did Chandrakar benefit?
The statement of an associate of Chandrakar named Honey Singh mentioned the Paytm account of Singh used by Chandrakar. Chandrakar used his account for deposit/withdrawals related to betting. Whenever a player won, Chandrakar used to transfer money in this bank account through Subham Soni, one of the accused in this case, and when a player lost, the amount deposited in his Paytm account was transferred to the bank account provided by Soni. Chandrakar used this bank account until August 2021.
Comments
0 comment