The Enforcement Directorate (ED) on Wednesday launched searches at premises linked to Vikas Garg, according to sources. Garg’s name had surfaced in connection with the Mahadev app case — a large-scale financial crime and illegal gambling investigation.
Investigators initiated the raids at multiple locations, spanning offices and residences, early on Wednesday, said the sources.
What is the Mahadev betting app case?
The case revolves around an alleged online betting and gambling scandal linked to a mobile app called Mahadev. The platform enabled users to place bets on games such as poker, cricket and tennis.
The ED — the country’s central financial crime-fighting agency — has been investigating the case, which allegedly involves money laundering to the tune of Rs 40,000 crore.
The app’s operators reportedly franchised the betting platform to associates on a profit-sharing model while laundering money through complex ‘benami’ bank accounts.
The ED has already filed chargesheets in the case, naming multiple accused including the main operators. Its probe has uncovered layered money laundering using benami bank accounts and involvement in stock price manipulation through promoter-controlled companies.
Earlier, the Supreme Court directed the Enforcement Directorate to trace and secure the absconding co-founder, Ravi Uppal, in the case. Uppal, fled Dubai, where he was under surveillance following an Interpol notice.
Expressing serious concerns over this evasion, the country’s top court said that investigative agencies should not be made “playthings” by white-collar criminals.
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