ED Freezes Assets Worth ₹130.57 Crore in Mahadev Online Book Case

Mumbai:  The Enforcement Directorate (ED) has frozen assets valued at ₹130.57 crore in the ongoing investigation into the Mahadev Online Book (MOB) platform. The frozen assets, including securities, bonds, and Demat accounts, were seized during raids in Kolkata on Thursday.

The ED’s inter-state investigation, covering over 110 locations across the country, including Maharashtra, has led to the attachment of immovable and movable assets worth ₹2,426.18 crore. MOB, an alleged syndicate involved in illegal online betting on sports and card games, is under scrutiny for money laundering using a network of benami bank accounts.

The investigation began in 2022, following cases registered by Chhattisgarh police, with further cases filed in other states like Andhra Pradesh. The ED has arrested 12 people and filed four charge sheets under the Prevention of Money Laundering Act.

MOB promoters Sourabh Chandrakar and Ravi Uppal, who were detained in Dubai in December 2023, are awaiting extradition after Interpol issued Red Corner Notices for their arrest.