Enforcement Directorate says betting platforms allegedly generated 36000cr to 43400cr
The Enforcement Directorate (ED) just dropped some big news: betting platforms like Mahadev Online Book (MOB), Skyexchange, and Lotus365 have allegedly generated proceeds of crime of between ₹36,000 crore and ₹43,400 crore over the past seven years.
The investigation kicked off in 2022 and has already led to five chargesheets against 74 persons and entities for money laundering.
ED freezes Vikas Garg assets 940.77cr
MOB reportedly ran over 2,000 betting platforms across India, with each pulling in ₹30 to ₹40 lakh a month, most of it sent straight to their head office.
On June 5, assets worth ₹940.77 crore linked to Delhi businessman Vikas Garg were frozen by the ED.
Skyexchange and Lotus365 alone made thousands of crores from illegal bets.
The probe also found a complex network of shell companies moving money around India and abroad, while top syndicate members are now facing serious charges, even landing on Interpol's radar.