Saurabh Chandrakar, once a modest juice seller from Bhilai, Chhattisgarh, has found himself at the center of one of India’s largest betting and money laundering scandals. His journey from running a small juice corner to becoming the founder of the Saurabh Chandrakar news, which is now embroiled in a multi-crore rupee scam, is a tale of rapid ascent and dramatic downfall.
From Juice Seller to Betting Kingpin
Saurabh Chandrakar’s early life was unremarkable. He operated a juice shop in Bhilai until 2018, struggling with financial stability. During this time, Chandrakar and his close associate, Ravi Uppal, began exploring the world of online betting, initially as participants. However, their fortunes changed when they decided to venture into the betting business themselves.
Chandrakar and Uppal’s journey into the betting industry started with substantial personal losses, which spurred them to establish their own betting platform. Thus, the Mahadev Online Betting App was born. The app quickly gained traction, offering a plethora of betting options and becoming a lucrative enterprise. However, this success came at the cost of legality and ethics.
The Mahadev Betting App
The Mahadev Betting App operated by franchising ‘panels’ or ‘branches’ to associates on a profit-sharing basis. This decentralized approach allowed for rapid expansion and significant user engagement. The app not only facilitated betting but also became a hub for money laundering activities, with its operators using a complex web of benami (proxy) accounts to launder the proceeds of their illegal activities .
Lavish Expenditures and the ED Investigation
The opulence of Chandrakar’s newfound wealth was on full display in February 2023 when he organized a lavish wedding in Ras Al Khaimah, UAE. The wedding, which reportedly cost around Rs 250 crore, involved hiring private jets to ferry guests and paying celebrities to perform, raised eyebrows and brought unwanted attention to his activities. This extravagance played a crucial role in triggering the Enforcement Directorate (ED) investigation into the Mahadev Betting App.
The ED’s investigation revealed that Chandrakar and his associates were involved in large-scale money laundering. The app’s operators had allegedly laundered around Rs 6,000 crore, channeling a significant portion of these funds through hawala networks and into investments in the stock market. The ED identified several dummy companies used to launder these funds, including Ability Games, Brillinant Investment Consultants, and Discovery Buildcon, which together managed substantial stock portfolios.
Political Links and Allegations
The Mahadev Betting App scandal also has political undertones. Accusations surfaced implicating senior political figures in Chhattisgarh. One of the key accused, Shubham Soni, alleged that he was coerced into paying Rs 508 crore to the Chief Minister of Chhattisgarh, Bhupesh Baghel, to secure support for his operations. These allegations, although vehemently denied by the accused politicians, have added a complex layer to the ongoing investigation.
Arrests and Legal Proceedings
The crackdown on the Mahadev Betting App has led to several arrests and detentions. Saurabh Chandrakar and Ravi Uppal were detained in Dubai under house arrest. The Indian authorities, working through diplomatic channels, are striving to extradite them to face charges back home. Interpol issued red notices against both Chandrakar and Uppal, intensifying the international dimension of this case.
The ED has filed multiple chargesheets in connection with the scam, naming Chandrakar, Uppal, and other associates. The charges include violations under the Prevention of Money Laundering Act (PMLA). As part of their investigation, the ED seized assets worth millions, and further probes are expected to reveal more about the extensive network behind the Mahadev Betting App.
The Broader Impact and Future Projections
The Mahadev Betting App case has underscored the pervasive issue of illegal betting and money laundering in India. The ease with which such operations can be established and scaled using digital platforms highlights significant gaps in regulatory oversight. This scandal is likely to prompt stricter regulations and enforcement actions aimed at curbing illegal betting activities and associated financial crimes.
Moreover, the political implications of this case could have far-reaching consequences, particularly in Chhattisgarh. The allegations against senior political figures, whether substantiated or not, have already sparked debates and could influence the political landscape in the region.
Conclusion
Saurabh Chandrakar’s story is a stark reminder of how rapid success, when built on illegal activities, can lead to an equally rapid downfall. From a humble juice seller to the mastermind of a multi-crore betting scam, Chandrakar’s journey is a testament to the allure and dangers of quick wealth. As the investigation unfolds, it remains to be seen how deep the roots of the Mahadev Betting App scam go and what measures will be implemented to prevent such occurrences in the future.
The Mahadev Betting App scandal has not only exposed the vulnerabilities in India’s financial and regulatory systems but has also highlighted the need for greater vigilance and accountability in the digital age.
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