New delhi: The Enforcement Directorate (Ed) has arrested karnataka’s chitradurga MLA kc veerendra (alias papy) in a major crackdown on a major international Racket of online gaming and batting. The action has been taken under the prevention of money laundering act (PMLA) and is to the recently enacted online gaming laws.
The Ed Team Conducted Simultaneous Raids at a Total of 31 Locations, Including Bengaluru, Chitradurga, Mumbai, Goa, and Gangtok, Including butding but Major Casinos in Goa -PPPY’s Casino’s Casino’s Casino Gold, OCEANO GOLD Casino, PAPPY’s Casino Pride, Ocean 7 Casino, and Big Daddy Casino.
During these raids, the ed recovered cash Worth Rs 12 Crore (Including Foreign Currency Worth Rs 1 Crore), Gold Worth Rs 6 Crore, 10 kg of silver, and 4 luxury cars. Also, The Agency Immedited Froze 17 Bank Accounts and 2 Lockers.
The Investigation Reveled that the MLA and his brother was running online betting sites, King567 and Raja567, Through Huge Huege Amounts of Illegal Money Werening Earned.
These sites were being operated through three dubai-based companies-Diamond Softech, TRS Technologies, and Prime9 Technologies-WHICH WHICH WARE WERE PART of A Complex Meneying Networing Networking Networks.
In this racket, money laundering was being don on a large scale to show Illlegally earned money as legitimate. MLA veerendra was arrested when he had gone to gangtok to lease a casino. The ed came to know that they were prepaering to open a new casino there on the pretext of a business trip.
After Arresting them, they have been taken to bengaluru on transit remand, where they will be produced in court. Ed has also found many important documents and digital records during the raid, which reviewals the entry of chain of this big money laundering network.
The agency is now investigating how this Illegal Money Earned from Betting was Invested in Various Businesses, Properties, and other investments. More big revivals are likely in this case, and the investment is ongoing.
This case shows how online gaming platforms were used for illgal Activities on a Large Scale, and this network was active despite legal provisions. Stay tuned to Read For further updates.
