ED seizes properties worth Rs 91.82 crore in Mahadev betting app scam

Raipur, Jan 7 (IANS) The Enforcement Directorate (ED) has provisionally attached movable and immovable properties valued at approximately Rs 91.82 crore in the ongoing money laundering probe into the illegal operations of Mahadev Online Book (MOB) and Skyexchange.com betting platforms.

In its latest action, the ED's Raipur Zonal Office froze bank balances worth Rs 74.29 crore held in the names of Dubai-based entities M/s Perfect Plan Investment LLC and M/s Exim General Trading FZCO. These firms are allegedly controlled by key accused Sourabh Chandrakar, Anil Kumar Agarwal, and Vikas Chhaparia, who used them to disguise proceeds of crime as legitimate investments, a statement of the investigation agency said on Wednesday.

Additionally, properties worth Rs 17.5 crore belonging to Gagan Gupta—a close associate of Hari Shankar Tibrewal, the owner of Skyexchange.com—were attached.

These include high-value real estate and assets in the names of Gupta's family members, acquired using cash generated from illicit betting, it said.

The ED investigation revealed that platforms like Mahadev Online Book and Skyexchange.com rigged games to ensure users lost money, generating massive illegal proceeds. The app served as an umbrella network facilitating user enrolment, financial routing, and laundering through benami accounts, fake KYC documents, and unaccounted transactions, the statement said.