ED Attaches Rs 177.3 Crore Of Assets Linked To Congress MLA, Associates In Illegal Online Betting Case
ED investigations into online betting case threw light on the role of Veerendra and his associates as the masterminds behind the nationwide illegal betting network: Reports
BENGALURU: Under the provisions of Prevention of Money Laundering Act, 2002, sleuths of Directorate of Enforcement (ED) on Thursday issued a provisional attachment order whereby assets worth about Rs 177.3 crore linked directly and indirectly to Congress MLA K.C. Veerendra and his associates in the case related to illegal online betting and gambling activities. The attached properties include immovable properties including agricultural land and residential sites along with movable assets.
With the latest attachments, ED sleuths have attached properties worth more than Rs 320 crore in the online illegal betting case under Prevention of Money Laundering Act, 2002 while the ‘proceeds of crime’ exceeds Rs 2,300 crore which were generated through illegal online betting and gambling activities and subsequently laundered through multiple layers of transaction.
It may be recalled here Congress MLA K.C. Veerendra was arrested in August last year by ED sleuths in Gangtok, Sikkim in connection with online illegal betting case and was ferried to Bengaluru. The High Court, recently, granted bail to him.
ED investigations into online betting case threw light on the role of Veerendra and his associates as the masterminds behind the nationwide illegal betting network.
The ongoing ED investigations into the case have established the accused persons generated substantial ‘proceeds of crime’ by duping the public through these online betting and impersonation scams. In the scheme, ED sleuths stated unsuspecting players were induced to stake money on rigged illegal gaming websites which were in the nature of online casinos.
Continuing the ED sleuths said the victims were initially shown fake winnings to build trust and then eventually blocked them from withdrawals. Investigation revealed use of hundreds of mule accounts and several payment gateways for laundering of ‘proceeds of crime.’
Meanwhile, ED sleuths continue their investigation in the case to identify all beneficiaries involved in illegal online betting and gambling activities.
