Enforcement Directorate arrests Ebix head Vikas Garg in Mahadev case
Business
Vikas Garg, who heads Ebix, was arrested by the Enforcement Directorate (ED) for alleged money laundering tied to the massive Mahadev betting app syndicate.
He was picked up from his Delhi home Tuesday and will be taken to a Raipur court next.
ED attaches 940cr plus EbixCash stake
The ED says Garg and his companies received crime proceeds from the Mahadev app, which is one of India's biggest illegal betting networks.
Assets worth over ₹940 crore were attached, including a major stake in EbixCash.
The syndicate reportedly moved money through fake accounts and even paid off officials for protection.