Mahadev Book betting app owner arrested in Dubai
Sourabh Chandrakar is expected to be extradited to India within a week.
India.- Saurabh Chandrakar, the owner of the Mahadev Book betting app, was arrested today (October 11) in Dubai following the issuance of a Red Notice (RN) by the Enforcement Directorate (ED) of India. It’s expected that Chandrakar will be extradited to India within a week.
Chandrakar and Ravi Uppal from Dubai are accused of using an online book betting application and of laundering money through a network of benami (unnamed) bank accounts. The ED said Mahadev followed a franchising model by offering “Panel/Branches” to known associates on a 70-30 profit-sharing basis.
Last September, the ED raided the offices of celebrities’ managers in Mumbai and Delhi as part of a money laundering investigation related to the wedding of Chandrakar. Authorities seized approximately Rs 2.5 crores, and recorded statements. Chandrakar was believed to have organised a wedding celebration in Dubai in February 2023, reportedly spending Rs 200 crore (US$2.5m). Various Bollywood celebrities appeared and performed.
