{"id":777033048,"date":"2025-10-13T09:35:27","date_gmt":"2025-10-13T12:35:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777033048"},"modified":"2026-04-21T18:15:53","modified_gmt":"2026-04-21T21:15:53","slug":"indian-ed-seizes-40kg-gold-in-illegal-betting-case","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/indian-ed-seizes-40kg-gold-in-illegal-betting-case","title":{"rendered":"Indian ED seizes 40kg of gold in illegal online betting probe"},"content":{"rendered":"\n<p>The ED said it brings the value of assets seized in the case to over \u20b9150 crore ($16.9m).<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>India.- The <strong>Enforcement Directorate (ED)<\/strong> has seized <strong>40kg of gold<\/strong> of 24-carat gold bullion worth \u20b950.33 crore (US$5.6m) during search operations in connection with an <strong>illegal online betting case<\/strong> involving Karnataka assembly member <strong>KC Veerendra<\/strong>.<\/p>\n\n\n\n<p>The searches were carried out by the ED&#8217;s Bengaluru Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The gold was seized from two lockers in Challakere. The ED said it brings the value of assets seized in the case to over \u20b9150 crore ($16.9m). Previous seizures include 21kg of gold bars, cash, gold and silver jewellery, bank accounts and vehicles. <\/p>\n\n\n\n<p>Veerendra and his associates are alleged to have operated multiple illegal online betting platforms. <\/p>\n\n\n\n<p>The ED said: \u201cThe probe revealed Veerendra in association with other friends and family members is involved in operations of many illegal online betting websites &#8211; King567, Raja567, etc. and cheating innocent players through the same. The funds collection from players has been routed using several gateways like FonePaisa etc. The money so collected is routed through several mule accounts which are sourced by these betting operators from intermediaries from all across India.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">India\u2019s Supreme Court schedules hearing on online gaming ban<\/h2>\n\n\n\n<p>The Supreme Court of India has <a href=\"https:\/\/focusgn.com\/asia-pacific\/indias-supreme-court-schedules-hearing-on-online-gaming-ban\" data-type=\"link\" data-id=\"https:\/\/focusgn.com\/asia-pacific\/indias-supreme-court-schedules-hearing-on-online-gaming-ban\" target=\"_blank\" rel=\"noreferrer noopener\">set a hearing date for November 4, 2025<\/a>, to hear consolidated petitions challenging the Promotion and Regulation of Online Gaming Act, 2025, a law that has halted real-money gaming nationwide. Justices J.B. Pardiwala and K.V. Viswanathan decided to defer proceedings until after the Diwali recess to allow parties to complete their pleadings.<\/p>\n\n\n\n<p>Online gaming firms say the ban has led to layoffs and closures across multiple platforms. Senior advocate C.A. Sundaram, appearing for Head Digital Works, operator of the skill-based platform A23, called for early relief, saying \u201cour business is completely closed, employees have been laid off, and the issue has national ramifications.\u201d<\/p>\n\n\n<div id=\"see-also-container\">\n\t\t\t<span class=\"see-also-label\">See also:<\/span><\/p>\n<div class=\"related-article\">\n\t\t\t\t<img decoding=\"async\" class=\"related-article__thumbnail\" src=\"https:\/\/focusgn.com\/asia-pacific\/wp-content\/uploads\/sites\/5\/2025\/10\/0bc05e94-cf4b-4bbe-9987-3fd2c2aa156b-300x200.jpg\" alt=\"\"><\/p>\n<p class=\"related-article__text\">\n\t\t\t\t\t<span class=\"see-also-label-strong\">See also:<\/span> <a href='https:\/\/focusgn.com\/asia-pacific\/indian-ed-raids-goa-casino-group'>Indian ED raids Goa casino group<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The ED said it brings the value of assets seized in the case to over \u20b9150 crore ($16.9m).<\/p>\n","protected":false},"author":218,"featured_media":15630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Enforcement Directorate has seized additional assets, including 40kg of gold, bringing the total to over \u20b9150 crore in an illegal online betting and money laundering case involving Karnataka assembly member KC Veerendra. Concurrently, India's Supreme Court has scheduled a November 2025 hearing for petitions challenging the nationwide ban on real-money online gaming, which has led to significant industry disruption and layoffs.","focusai_entities":"Enforcement Directorate, KC Veerendra, King567, Raja567, FonePaisa, Supreme Court of India, J.B. Pardiwala, K.V. Viswanathan, Head Digital Works, A23, C.A. Sundaram","focusai_location":"India, Karnataka, Bengaluru, Challakere","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.97), operator_casino (0.98), affiliate_publisher (0.75), marketing_crm (0.8), payments_fraud_aml (0.9), investor_analyst (0.95), supplier_vendor (0.9), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Impact on iGaming Valuations?","query":"What are the projected long-term impacts of India's online gaming ban and subsequent legal challenges on the valuation and investment outlook for both domestic and international iGaming entities?"},{"label":"Regulatory Framework Evolution?","query":"How might the Supreme Court's eventual ruling on the Promotion and Regulation of Online Gaming Act, 2025, reshape India's regulatory compliance and governance frameworks for the iGaming sector?"}],"footnotes":""},"categories":[439,16334],"tags":[24634,58],"class_list":["post-777033048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news","category-south-asia-news","tag-illegal-online-gambling","tag-india"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777033048","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\/218"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777033048"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777033048\/revisions"}],"predecessor-version":[{"id":777033062,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777033048\/revisions\/777033062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15630"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777033048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777033048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777033048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}