Case Involving the Mahadev Betting App: UAE Officials Arrested Mastermind Saurabh Chandrakar

Nitin Konde, Varun Bhardwaj

Oct 12, 2024 — 3 min read

Mahadev Betting App Saurabh Chandrakar Arrested by UAE

According to various media reports, Saurabh Chandrakar, the suspected mastermind of the multimillion-dollar Mahadev Online Book scam, has been arrested by UAE officials on suspicion of money laundering.

A formal request for extradition is anticipated to be sent shortly by the Enforcement Directorate. The sources went on to say that on September 9, 2024, the arrest was reported to the investigative agency. The estimated amount of proceeds of crime (PoC) is INR 10,000 crore; however, if an all-India assessment is produced, the number may be substantially higher. Tainted gains resulting from illicit acts that are under the purview of the Prevention of Money Laundering Act (PMLA) are referred to as PoC in the context of money laundering.

Details of The Case

Large-scale money laundering through the app's activities was found to be facilitated by these accounts earlier this year, with the share market alone receiving about INR 1,100 crore in funds. It is estimated that the fraud also uses thousands of SIM cards in addition to other covert methods to avoid discovery.

Many investigative organisations have taken notice of the Mahadev betting app, which is operated by its promoters, Saurabh Chandrakar and Ravi Uppal, out of Dubai. Using a complex network of unregistered accounts, the app functioned as an umbrella syndicate, offering venues for unlicensed betting websites and money laundering services. Authorities' attempts to prosecute the main actors have been hampered by the app's global activities.

What Charge Sheets State?

In this instance, the ED has so far taken 11 people into custody. The agency has also so far filed two charge sheets, one of which is directed at the two promoters. The agency estimates that the proceeds of crime in this case are around INR 6,000 crore. In its charge sheet, the ED claims that Chandrakar got married in Ras Al Khaimah, United Arab Emirates, in February 2023, and that the wedding cost was over INR 200 crore "in cash."

According to the agency, celebrities were paid to perform at the wedding, and private jets were rented to transport Chandrakar's relatives from India to the United Arab Emirates. It had demanded to know the payment method and the connections between the online betting platform and numerous celebrities and Bollywood actors, alleging that the app's purportedly illicit earnings were given as bribes to state officials and politicians.

Further Details of the Investigation

The Mahadev Online Book App is managed from a central head office in the United Arab Emirates, according to the ED's investigation. It makes money by franchising "panels/branches" to familiar partners at a profit ratio of 70–30%. Huge-scale hawala operations are carried out in order to divert betting profits to offshore accounts.

According to the ED, a significant amount of money is also being spent in India to advertise betting websites in an effort to draw in new customers and franchise (panel) aspirants. The company's founders are from Chhattisgarh's Bhilai.