Sourabh Chandrakar ran a multimillion-dollar black market gambling operation that primarily targeted the Indian market and was allegedly involved in money laundering
In a significant crackdown on illegal gambling operations, Dubai authorities have arrested Saurabh Chandrakar, the notorious mastermind behind the Mahadev Online Book. Chandrakar was on the radar of law enforcement agencies across India and abroad and finally got apprehended by UAE officials on charges of money laundering. The arrest marks the culmination of a multinational investigation spearheaded by India’s Enforcement Directorate (ED).
The Operation Handled Staggering Amounts of Money
Chandrakar oversaw a sophisticated illegal betting platform that allegedly laundered massive amounts of money through fraudulent networks. The black market operation, estimated to involve more than Rs 15,000 crore ($1.8 billion) in criminal proceeds, has led the ED to pursue his extradition from the UAE as the agency looks to bring Chandrakar back to India to face justice.
The arrest of Chandrakar follows a series of raids by Indian authorities in 2023 as part of a nationwide crackdown on black market gambling operators. It affected 22 websites and illegal betting applications, focusing on Mahadev Online Book. The ED’s investigations uncovered that the platform operated under the guise of an online betting syndicate while facilitating massive money laundering.
The Mahadev betting app, operating from Dubai, offered illegal betting services and facilitated extensive money laundering through a web of benami accounts. With its international operations, a few thousand SIMs, and other deceptive tactics to avoid detection, it was one of the largest and most elusive gambling networks operating out of India and the UAE.
Chandrakar’s Opulent Lifestyle Contributed to His Arrest
The operation’s scale necessitated the collaboration of several investigative agencies to untangle the money trail that extended to stock markets and beyond. Earlier in 2024, the ED reportedly found more than Rs 1,100 crore ($131 million) getting laundered into the Indian stock market through the operations of the Mahadev app. It also uncovered that the illegal earnings were used to bribe Indian politicians and bureaucrats.
This newest breakthrough was only possible due to Chandrakar’s flamboyant nature. He reportedly spent an estimated Rs 200 crore ($25 million) in cash on his lavish wedding in Ras Al Khaimah, UAE, in February 2023, hiring private jets to fly relatives in from India and paying Bollywood celebrities large sums to perform at the event. This opulence drew the attention of the ED, which questioned the Bollywood actors and traced the payments.
While Chandrakar’s arrest marks a significant milestone in the ED’s investigations, the case is far from closed. The agency’s focus now shifts to Chandrakar’s extradition and its efforts to trace and hopefully recover the significant sums involved in the money laundering operation. This case closely resembles the recent arrest of Telegram CEO Pavel Valeryevich Durov, who faces accusations from India and Turkey.
