Ravi Uppal<\/strong>\u00a0from Dubai are accused of using an online book betting application and of laundering money through a network of benami (unnamed) bank accounts.\u00a0The ED said Mahadev followed a franchising model by offering \u201cPanel\/Branches\u201d to known associates on a 70-30 profit-sharing basis.<\/p>\n\n\n\nLast 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.\u00a0Authorities 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sourabh Chandrakar is expected to be extradited to India within a week.\u00a0<\/p>\n","protected":false},"author":176,"featured_media":25038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Saurabh Chandrakar, owner of the Mahadev Book betting app, has been arrested in Dubai following an Indian Enforcement Directorate (ED) Red Notice and is expected to be extradited to India. Chandrakar and Ravi Uppal are accused of operating an online betting application and laundering money through a network of benami bank accounts, utilizing a 70-30 profit-sharing franchising model. The ED's investigation also targeted Chandrakar's wedding, where significant funds were allegedly spent and Bollywood celebrities performed.","focusai_entities":"Saurabh Chandrakar, Mahadev Book, Enforcement Directorate, Ravi Uppal","focusai_location":"India, Dubai, Mumbai, Delhi","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.8), payments_fraud_aml (0.9), investor_analyst (0.8), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Extradition Impact","query":"What are the broader implications of this extradition for international regulatory cooperation and the pursuit of illicit iGaming operators in jurisdictions with evolving legal frameworks?"},{"label":"Franchise Model Risk","query":"How does the 'franchising model' employed by Mahadev Book expose vulnerabilities in current AML and operational compliance frameworks, particularly concerning beneficial ownership and profit-sharing structures?"}],"footnotes":""},"categories":[439,16333],"tags":[20326],"class_list":["post-777019817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news","category-south-east-asia-news","tag-illegal-gambling"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777019817"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019817\/revisions"}],"predecessor-version":[{"id":777019827,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019817\/revisions\/777019827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25038"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777019817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777019817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777019817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}