Overview
- The Enforcement Directorate, in a provisional order dated March 24 under the PMLA, attached 18 Dubai properties and two in New Delhi linked to promoter Sourabh Chandrakar and associates.
- Investigators say the assets include apartments in the Burj Khalifa and homes in Dubai Hills Estate, Business Bay and SLS Hotel & Residences held through entities tied to Chandrakar’s network.
- The agency alleges the real estate was bought with illicit earnings from the Mahadev Online Book syndicate, which routed betting proceeds through mule bank accounts, hawala transfers and cryptocurrency.
- According to the ED, Mahadev ran a franchise-style setup across India via platforms such as Tiger Exchange, Gold365 and Laser247, with promoters retaining about 70–75% of profits before layering the funds.
- With this action, total attachments, seizures and freezes in the case stand at about ₹4,336 crore, alongside 175+ searches, 13 arrests, five charge-sheets naming 74 accused and ongoing FEO and extradition efforts.