Mahadev case probe: Betting apps generated proceeds of around ₹43,000 crore in last 7 years, says ED

Enforcement Directorate (ED) estimates Mahadev Online Book (MOB) and platforms like Skyexchange and Lotus 365 generated proceeds of crime (POC) between ₹36,000 crore and ₹43,400 crore in seven years.

ED’s June 5 provisional attachment order covered assets worth ₹940.77 crore linked to Delhi-based businessman Vikas Garg, including residential units, land parcels, and equity shares.

MOB, operating through franchise-based networks, generated over ₹450 crore monthly, laundered via shell entities and accommodation entries.

Despite crackdowns since 2022-23, illegal betting continued through dummy and mirror sites, increasing total POC.

ED has filed five chargesheets against 74 persons and entities in the PMLA court at Raipur, Chhattisgarh.