The Enforcement Directorate (ED) on Wednesday said it has attached 20 properties that have a fair market value of nearly Rs. 1,700 crore in its ongoing money laundering probe in the Mahadev online betting case.
The properties – 18 in Dubai and two in New Delhi – belong to Sourabh Chandrakar, one of the main promoters of betting app Mahadev Online Book, and are held on behalf of entities controlled by him and his associates, the agency said in a press release. The ED Raipur Regional Office has issued a provisional attachment order (PAO) under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
According to the ED, Mahadev Online Book operated as a large-scale international betting syndicate that facilitated illegal betting through various online platforms and domain names such as Tiger Exchange, Gold365 and Laser247. The operation, the agency said, was structured through a franchise network of “panels” or “branches” run by associates across India, while master promoters Sourabh Chandrakar and Ravi Uppal operated and controlled the betting syndicate from Dubai.
Both Chandrakar and Uppal hail from Chhattisgarh and the agency had in the past said several high-ranking bureaucrats and politicians from the state were involved in the case.
Assets considered for seizure include high-value luxury villas, apartments in Dubai Hills Estate (including Hills View, Fairway residences and Sidra), several luxury apartments in Business Bay and SLS Hotel & Residences, as well as apartments in the iconic Burj Khalifa, the ED said.
The money to invest in these properties was transferred outside India through hawala channels, cryptocurrency transactions and complex financial layering mechanisms, he added.
Explaining the entire chain, the ED statement alleged that proceeds of crime (PoC) generated from commission of scheduled crimes were systematically layered through thousands of mules or fake bank accounts opened using KYC documents of unsuspecting individuals.
“Subsequently, the illicit funds were transferred out of India through hawala channels, cryptocurrency transactions and complex financial layering mechanisms and ultimately invested in high-value movable and immovable assets in the UAE and India,” he added.
According to the ED, it has so far arrested 13 persons and named 74 persons as accused in the case. In connection with this case, it conducted search operations in more than 175 establishments across the country.
Published – 25 March 2026 23:56 IST
