Mahadev Online betting app scam mastermind Saurabh Chandrakar arrested in Dubai

It is reported that the alleged mastermind behind the multicrore Mahadev Online Book scam, Saurabh Chandrakar has been arrested. Following the arrest notification, the Enforcement Directorate (ED) is expected to submit a formal extradition request soon.  

The proceeds of crime (PoC) in this case are estimated at Rs 10,000 crore, with projections indicating that the national total could be twice that amount. PoC refers to the illegal profits obtained from unlawful activities, as defined by the Prevention of Money Laundering Act (PMLA).

ED, earlier this year revealed that the accounts associated with the Mahadev betting app were instrumental in laundering a vast sum of money which includes almost Rs 1,100 crore. The money was channeled into the stock market. The investigation also uncovered the use of thousands of SIM cards and various tactics to avoid detection.     

Operated from Dubai by its promoters, Saurabh Chandrakar and Ravi Uppal, the Mahadev betting app has attracted scrutiny from multiple investigative agencies. The app functioned as a central syndicate, facilitating illegal betting websites and laundering money through a complex web of proxy accounts. The international scope of the operation has posed significant challenges for authorities attempting to hold key figures accountable.

The ED’s charge sheet claims that Chandrakar's wedding occurred in Ras Al Khaimah, UAE, in February 2023, with approximately Rs 200 crore reportedly spent in cash for the event. Private jets were allegedly chartered to transport Chandrakar's relatives from India to the UAE, and celebrities were paid to perform at the wedding. The agency has also asserted that the illegal funds generated by the app were used as bribes for politicians and bureaucrats, prompting the summoning of numerous celebrities and Bollywood actors for questioning about their payment methods and connections to the online betting platform.