Connections with D-Company, a criminal organization founded and controlled by Dawood Ibrahim. Money was laundered to Middle Eastern countries, including Dubai, through at least 500 hawala operators and about 70 shell companies. Thailand’s huge business network – These are the latest findings from an investigation into India’s biggest online gambling scam.
Mahadev’s online betting app racket is India’s new ‘chip fund’ scam in terms of its comprehensive scale. As the investigation network by the Enforcement Directorate (ED) widens, many influential people, including senior politicians, bureaucrats, celebrities, and businessmen, become involved.
This is exactly what happened in India during the investigation into the Ponzi scheme scam, commonly known as the “chip fund” scam. but,
There is only one difference between the Mahadev app and a Ponzi scheme. Unlike the ‘chip fund’ scam, which mainly ‘swindled’ people out of their life savings, online betting app scams are endangering India’s sovereignty and national security, top ED officials have said.
Connection with Company D
Ponzi schemes such as Sahara, Sharada and Rose Valley are said to have looted depositors of their hard-earned money. Hundreds of them died by suicide. However, there was no “national security” perspective. This was an old-fashioned way of deceiving people by promising them bigger profits and luring them into debt traps.
However, as the investigation into the Mahadev gambling app progresses, investigators have received a wealth of important data, evidence and details that could uncover a possible financial conspiracy against the country.
As more details emerged, it was discovered that the promoters of this online betting app were not only scamming people, but also laundered money into Middle Eastern countries including Dubai, operated from Pakistan, and expanded their operations in Thailand. . All of this is done using large-scale rackets. A hawala operator and his more than 70 shell companies are participating.
During the investigation, the Enforcement Directorate also received information regarding the promoter’s relationship with the notorious D company. News18 revealed that the directorate is verifying the information and working on the input.
Mahadev: The fake complex
The Mahadev gambling app, developed by four youths from Madhya Pradesh, has slowly taken over at least 10 similar gambling apps operating illegally in the country. Other apps under the Mahadev betting empire include Lotus 365, ReddyAnna, and many others.
In an order issued in February, the Ministry of Home Affairs (MHA) restricted at least 138 online gambling apps with links to China and other questionable foreign locations. Betting apps like Lotus 365 are registered abroad and are not approved by the Indian government.
However, you can still find advertisements for these apps through social media and websites. On the landing page, the respective app’s site displays his WhatsApp number and a registration link for gamers and gamblers. “These apps work just like casinos, the only difference is legal verification. While casinos are regulated, these apps are completely illegal and there is no bookkeeping,” said the investigation process. said a senior ED official involved.
“The WhatsApp link directs those interested in playing or betting to the Paytm or G Pay options. Once they pay, the money goes to the account of the panel member who manages the app or website interface. After deducting a certain percentage as a fee, members transfer funds to hawala accounts or dummy companies.Then, after going through a process, the funds are laundered into offshore accounts.A given hawala operator has around 200 to 300 people. of customers,” said another executive.
While digging deep into the details, the ED also came across certain evidence linking Lady Anna App with some senior politicians and revealing delicate links with Hyderabad. “We have discovered some sensitive information that we cannot reveal at this time. We plan to file a detailed indictment later this month,” she added.