Ahmedabad/Alive News: The Central Bureau of Investigation (CBI) has uncovered extensive links between Gujarat’s betting and money-laundering networks and the Mahadev Online Book app syndicate following disclosures by its promoter Saurabh Chandrakar after his extradition from Oman.
The agency recently conducted raids at 33 locations across six states, including Ahmedabad, Vadodara and Surat, targeting betting operations, mule bank accounts and hawala networks. Investigations suggest Gujarat served as an important financial and technical centre for Chandrakar’s syndicate.
Ahmedabad-based network under scanner
A July 2024 betting case in Patan against Chandrakar’s alleged associate Bharat Chaudhary brought 23 betting platforms, including 99EXCH, Fairplay and Lotus365, under scrutiny. Investigators reportedly found that these platforms recorded betting transactions worth Rs 5,215.64 crore in 2023.
According to a senior police official, Chaudhary operated from ICB Flora in Ahmedabad’s Gota area, where GCT Software Solution Private Limited was also registered. The company, along with two Dubai-based firms, allegedly managed server infrastructure for betting IDs and payment processing.
Hawala transactions and wedding expenses traced
Investigators have also examined links between Chandrakar’s network and a Rs 2,300-crore cricket betting and illegal trading racket in Madhavpura. Digital evidence reportedly revealed money transfers through shell companies and angadia networks, leading to the freezing of 481 bank accounts and blocking of 139 mule accounts.
In another case, Gujarat CID Crime busted a Rs 1,195-crore betting-related money-laundering network in January 2024, arresting seven people.
The Enforcement Directorate’s investigation also traced alleged hawala transfers of Rs 200 crore to Dubai through Gujarat-based operatives Ramesh Thakkar and his nephew Khanjan. Investigators linked these transactions to funds used for Chandrakar’s lavish wedding in Ras Al Khaimah in 2023.
The latest findings have brought Gujarat’s financial networks and backend infrastructure under greater scrutiny as the CBI investigates the wider betting syndicate.
