ED Cracks Down on Mahadev Betting App: Arrests Key Figures, Seizes Assets Worth ₹580 Crore

ED Cracks Down on Mahadev Betting App: The Enforcement Directorate (ED) took decisive action against the operators of the Mahadev Betting App, arresting two key individuals:
Girish Talreja: Arrested from Bhopal and linked to large-scale hawala operations.
Suraj Chokhani: Apprehended in Kolkata for investing proceeds from betting into the stock market.
Both individuals were produced in a Raipur court, where they were remanded to judicial custody.
Absconding Suspects and Hawala Connections
Ratan Lal Jain: Co-owner of the app and prime suspect, currently on the run. He is accused of operating the app in collaboration with Sky Exchange and laundering money through offshore accounts.
Shubham Soni: Another key figure, also absconding, with alleged connections to significant financial transactions.
Massive Asset Seizures Under PMLA
The ED has seized assets worth ₹580.78 crore belonging to Jain and Talreja. These include investments in the Indian stock market through Foreign Portfolio Investments (FPIs) and hawala transactions routed through Dubai-based units.
Raids and Investigations Across Cities
On February 28, simultaneous raids were conducted in Raipur, Kolkata, Gurugram, Delhi, Indore, and Mumbai. Key revelations include:
Hawala operations to transfer proceeds to offshore accounts.
Connections to illegal betting websites like Sky Exchange.
Bribes amounting to ₹65 crore distributed to senior officials by arrested ASI Chandrabhushan Verma.
Role of Interpol and NCB in the Investigation
The ED investigation is supported by India’s National Central Bureau (NCB) under the CBI, which is responsible for issuing Red Corner Notices against absconding individuals. Efforts are underway to locate and extradite key suspects, including Jain and Soni.
ED’s Findings and Next Steps
The Mahadev Betting App case has exposed large-scale hawala operations and illegal betting networks. The ED’s investigation is based on FIRs filed by the Chhattisgarh Police, Vishakhapatnam Police, and other state authorities.
Key findings include
Siphoning of betting proceeds to offshore accounts.
Use of shell companies and associates for laundering money.
Investments in the stock market through FPIs.
The ED is now focused on tracing remaining suspects, including Jain and Soni, and uncovering additional links in the betting network.
The Mahadev Betting App case underscores the scale of illegal betting and money laundering operations in India. With arrests, asset seizures, and ongoing investigations, the ED is working to dismantle the network and bring the culprits to justice.