Mahadev gambling app: Kingpin Sourabh Chandrakar ‘spent Rs 200 cr on lavish UAE wedding, kin flown in from Nagpur in private jets’

“Sourabh Chandrakar and Ravi Uppal have created an empire for themselves in the UAE. The sudden and illegal riches are being openly flaunted by them,” the ED said in a statement on Friday.

“In February 2023, Sourabh Chandrakar got married at RAK (Ras Al-Khaimah), UAE, and for this marriage ceremony, the promoters of Mahadev App spent around Rs 200 crore in cash,” it said.

“Private jets were hired to ferry family members from Nagpur to UAE. Celebrities were hired to perform in the marriage. Wedding planners, dancers, decorators etc were hired from Mumbai and hawala channels were used to make payments in cash,” the agency said.

The ED began its probe into the case earlier this year and arrested four people last month.

So far, the ED has conducted searches at 39 locations across Raipur, Bhopal, Mumbai and Kolkata and seized illegal assets worth Rs 417 crore. The agency is also in the process of issuing Red Corner Notices (RCN) against Chandrakar and Uppal, the two alleged kingpins. A special PMLA court in Raipur has also issued non-bailable warrants against the absconding suspects in order to get the RCNs issued against them.

An ED officer said, “Their M/s Mahadev Online Book is run from a head office in the UAE and operates by franchising ‘panels’ or branches to their known associates and small punters on 70:30 profit ratio.”

“Large scale hawala operations are done to siphon off the proceeds of betting to off-shore accounts. Large expenditure in cash is also being done in India for advertising the betting websites and self-aggrandisement is necessary to attract new users and franchise seekers,” the officer said.

The ED said it has digital evidence to show that Rs 112 crore was allegedly delivered via hawala to an event management company, M/s R-1 Events Pvt Ltd, owned by one Yogesh Popat, for Chandrakar’s wedding. Hotel bookings worth Rs 42 crore were done for the wedding by paying in cash in UAE Dirhams, it said.

Explained Mahadev online betting racket: How two Chhattisgarh men amassed Rs 5000 cr

The ED conducted searches on the premises of Popat, one Mithilesh and other organisers, and collected the evidence. Subsequently, more searches were conducted on the hawala agents named by Popat.

The raids resulted in the seizure of Rs 2.37 crore unaccounted cash.

According to the agency, it has found that many celebrities have been endorsing these betting entities and performing at their functions in return for hefty fees layered through dubious transactions but ultimately paid from the proceeds of online betting.

The ED also conducted searches on M/s Rapid Travels, run by two brothers – Dheeraj Ahuja and Vishal Ahuja – in Bhopal. This firm was responsible for the ticketing operations of the Mahadev app promoters, their families, business associates and even for the celebrities who endorsed betting websites such as fairplay.com, Reddy Anna app, Mahadev app.

The illicit cash earnings from the betting panels were deposited by the Ahuja brothers with main ticket providers, and the wallet balance was used to book domestic and international tickets, according to the ED probe. M/s Rapid Travels made travel arrangements for most events of the Mahadev group, including the annual star-studded events organised in the UAE in September.

The ED has also found that a Kolkata-based individual, Vikash Chhaparia, allegedly handled all hawala-related operations of Mahadev app. The agency conducted searches on his premises and on the premises of his associates, including one Govid Kedia.

It was found that with Kedia’s help, Chaparia through his entities – M/s Perfect Plan Investments LLP, M/s Exim General Trading FZCO and M/s Techpro IT Solutions LLC – invested heavily in the Indian stock market through the Foreign Portfolio Investment (FPI) route. Accordingly, cash derivatives and other security holdings worth Rs 236.3 crore in the name of entities beneficially owned by Chhaparia were frozen by the ED.

Further, assets worth Rs 160 crore in DEMAT holdings of Kedia have also been frozen. The searches on the premises of Kedia also resulted in the seizure of Rs 18 lakh cash, and gold and jewellery worth Rs 13 crore.