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Money

Rs 91 Crore In Assets Seized By Probe Agency ED In Mahadev Betting App Case

The Enforcement Directorate (ED) has provisionally attached assets worth Rs 91.82 crore linked to illegal betting operations associated with the Mahadev Online Book and Skyexchange platforms. The investigation revealed extensive money laundering activities, including the use of hawala channels and cryptoassets, with funds allegedly funneled back into India for stock market investments.

ED

ED

Credit: Indiatoday

Key Highlights

  • Assets worth Rs 91.82 crore seized by the ED in connection with illegal betting.
  • Investigation includes cross-border money laundering and the use of hawala channels.
  • Funds were reportedly routed back into India via foreign portfolio investors.
  • Mahadev Online Book and Skyexchange. com linked to massive proceeds of crime.
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Sources

  1. Rs 91 Crore In Assets Seized By Probe Agency ED In Mahadev Betting App Case
  2. ED attaches assets worth Rs 91.82 crore in Mahadev, Skyexchange betting probe

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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