Sat. May 18th, 2024

A Rs 200-crore UAE wedding paid for in cash has raised suspicions around the Mahadev Online Book app. Ranbir Kapoor, who has appeared in advertisements for the app, was summoned by the Enforcement Directorate for questioning. Sourabh Chandrakar, one of the promoters of the app, had his wedding in Ras Al-Khaimah in February. The extravagant event, which included private jets and celebrity performances, was all paid for in cash, causing concern for the authorities. The Enforcement Directorate stated that Rs 112 crore was delivered via hawala transactions to the event management firm and Rs 42 crore were spent in cash on hotel bookings in UAE currency. The agency’s searches on individuals associated with the event management firm uncovered evidence of hawala transactions and unaccounted cash. The investigation revealed that celebrities were endorsing these betting entities and performing at their functions in exchange for large fees. The proceeds from online betting were used to pay for these endorsements. The ED has conducted searches against money laundering networks connected to the Mahadev app in various cities, seizing illegal assets worth Rs 417 crore. Searches were also conducted on the travel agency that booked tickets for the app’s promoters, their family members, and the celebrities endorsing the platform. The agency identified other major players involved in the alleged money laundering operations of the Mahadev Online Book app. The main promoters, Sourabh Chandrakar and Ravi Uppal, are from Bhilai, Chhattisgarh, and operate from Dubai. The ED alleged that large-scale hawala operations are used to transfer betting proceeds to offshore accounts. They also claimed that cash is spent on advertising betting websites and self-grandizement to attract new users and panel seekers. The investigation has so far resulted in 39 searches and the seizure of illegal assets worth Rs 417 crore.

By admin