Mahadev promoter faces ED trial for money laundering under online betting case

New Delhi: With illegal betting app Mahadev Online Book promoter Sourabh Chandrakar now in Central Bureau of Investigation (CBI) custody, after the agency brought him back from Oman, the Enforcement Directorate has a money-laundering trial waiting, about ₹3,500 crore in attached assets and a fugitive economic offender plea listed for December 5, according to people with knowledge of the matter.

A Delhi court granted the CBI a two-day transit remand of Chandrakar, the alleged kingpin in the scandal. He will now be taken to Chhattisgarh.

Chandrakar, will face trial before the special court (PMLA), Raipur, on the prosecution complaint filed by the agency on October 20, 2023 under Sections 3 and 4 of the Prevention of Money Laundering Act (PMLA). That complaint includes the roughly ₹200 crore, cash-funded wedding in Ras Al Khaimah in February 2023. He left India on February 16, 2022. The ED obtained an open-ended non-bailable warrant in September 2023 and an Interpol Red Notice that November.


In parallel, the ED's application under the Fugitive Economic Offenders Act, filed in November 2024, seeks to confiscate his property, including benami (proxy) holdings. The ED moved for urgent hearing on October 8; the Raipur court has listed the matter next on December 5.

The ED has issued 11 provisional attachment orders, of which seven are confirmed. Of the roughly ₹3,500 crore attached, about ₹1,800 crore is abroad, including 22 properties in Dubai and ₹1,700 crore in India. The agency estimates the proceeds of crime of Mahadev and sister platforms, Skyexchange and Lotus365, at ₹88,000-94,000 crore, of which ₹4,000-5,000 crore was allegedly remitted to the promoters in the UAE. Six prosecution complaints named 116 accused; 14 have been arrested.

The PMLA probe into the case is widening beyond the promoters, according to people privy to the information. On August 14, the ED recorded a fresh PMLA case based on the CBI's first information report, in which former Chhattisgarh chief minister Bhupesh Baghel has been named as an accused. The ED alleges the promoters paid "liaisoning money" for protection in the state.

The people said that panel operator Chandrakar told the ED in August 2023 that assistant sub-inspector Chandrabhushan Verma allegedly received about ₹81 crore from co-promoter Ravi Uppal, including ₹20 crore for the chief minister's house. Another accused, Shubham Soni, wrote to ED on November 2, 2023, claiming about ₹508 crore had been paid to Baghel.

The ED seized ₹5.39 crore the same day from courier Asim Das, who told the agency he was to deliver cash to 'Baghel'. These are allegations drawn from statements and an email on the ED's record. Baghel has denied any wrongdoing.