Mahadev Betting Case: ED Freeze Securities, Bonds, Demat Accounts, Valued Over Rs 57.3 Crore

The Office Enforcement Bureau of Raipur Zonal (ED) conducted a search operation at various locations in Indore, Delhi, Mumbai, Indore, seized Rs 329 crore worth of cash and frozen cash from securities/bond/bond accounts worth more than Rs 57.3 crore.

“The ED investigation shows that the M/S Mahadev online book blog preview app (a platform arranged for online use to enable illegal gambling websites to register new users, create user IDs) and has received substantial proceeds of criminal proceeds (POC) (POC) (POC) (POC) which is called through the complex network of Benami Bank accounts, an official of AD.

The ED survey shows that the funds/POCs generated by these betting platforms are being transferred from India to the Indian stock market under the name of “foreign FPI” (in Mauritius, Dubai, etc.).
The investigative agency further stated that an investigation is underway to reveal the complete crime of the stock price manipulation.

Further investigation is underway.