New Delhi: The Enforcement Directorate has attached overseas assets worth about ₹1,700 crore in the ongoing Mahadev Online Book money laundering probe, taking the total value of assets attached or seized in the case to more than ₹4,000 crore, according to official sources.
The agency said the assets are allegedly linked to Sourabh Chandrakar, one of the principal accused in the case. The attached properties include high-end residential units in Dubai, with investigators pointing to locations such as the Burj Khalifa, Dubai Hills Estate, Business Bay and SLS Residences as part of the suspected holdings.
Officials allege the properties were acquired using proceeds of crime generated through illegal online betting operations run via the Mahadev platform. The ED has described the network as a large-scale betting syndicate with international reach, routing funds through shell entities, hawala channels and cryptocurrency transactions to obscure their origin before investing them in overseas assets.
Investigators say Dubai functioned as a key operational and financial hub for the alleged syndicate, facilitating both the movement and layering of funds.
The attachment of foreign assets marks a significant step in the probe, though officials note that final confiscation will depend on legal processes in overseas jurisdictions. This includes cooperation under mutual legal assistance treaties and recognition of Indian court orders by authorities in the United Arab Emirates.
Extradition proceedings against Chandrakar are currently underway in the UAE, where Indian authorities are seeking his return to face charges under the Prevention of Money Laundering Act.
The investigation remains ongoing, with the agency focusing on identifying additional associates, financial intermediaries and entities allegedly involved in laundering proceeds of crime. Further enforcement action is expected as the probe advances.
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