Raipur. Enforcement Directorate (ED) Raipur arrested Girish Talreja on 2 March 2024 and Suraj Chokhani on 3 March 2024 under the provisions of Prevention of Money Laundering Act (PMLA), 2002 for their role in money laundering activities related to Mahadev Online Book Was. The arrested accused were produced before the PMLA Special Court, Raipur, which sent the accused person to ED custody for 7 days till March 11, 2024.
ED started investigation on the basis of FIR registered by Chhattisgarh Police. After this, FIRs lodged by Visakhapatnam Police and other states were also taken on record. M/s Mahadev Online Book Betting APP is a widespread syndicate that arranges online platforms to enable illegal betting websites to enroll new users, create user IDs and launder funds through a layered web of anonymous bank accounts. Is.
ED investigation revealed that Girish Talreja has a stake in the operations of “Lotus365”, which is a subsidiary of Mahadev Online Book. He is a partner in the illegal operations of Lotus 365 along with Ratan Lal Jain alias Aman and Saurabh Chandrakar. Thus, Girish Talreja was found to be playing an active role in laundering the proceeds of crime arising from the illegal operations of Lotus 365. The searches under Section 17 of PMLA, 2002 were conducted on March 1, 2024 at multiple locations in Kolkata, Haryana, Delhi, MP, Maharashtra and Goa, including branches of Lotus 365 operating from Pune, Maharashtra. Speculative cash worth Rs 50 crore per month was being handled by this branch.
According to information received from ED, Girish Talreja was found to be one of the members of the “Cash Handling WhatsApp Group” of this branch. The search resulted in the seizure of Rs 1 crore in cash. The ED investigation has also revealed that Hari Shankar Tibrewal had also partnered with the promoters of Mahadev Online Book in conducting illegal betting operations for the betting website “SkyExchange”. Hari Shankar Tibrewal had laundered the proceeds of crime generated from betting operations through several companies operating in India and outside India. Harishankar Tibrewal used Suraj Chokhani to launder and conceal the proceeds of crime under the guise of stock investments for Indian companies.
According to the ED, searches conducted at the premises of Hari Shankar Tibrewal's associates, including Suraj Chokhani, in Kolkata revealed that most of the sources for these investments were collected through acquiring banks. Entries in these companies in exchange for cash and using the amount received to invest in the stock market. As of February 29, 2024, there were securities worth about Rs 580 crore in the stock portfolio of Indian companies controlled by associates of Hari Shankar Tibrewal. Foreign institutions also invested in India through the FPI route and securities worth Rs 606 crore were found in their stock portfolio as of 29 February 2024.
Searches in Kolkata also revealed that Harishankar Tibrewal was also involved in stock market manipulation in collaboration with the promoters of listed companies. Harishankar Tibrewal used his huge capital to create temporary fluctuations in share prices, drive them upwards and then withdraw the money when the prices reached higher levels. A search was also conducted in relation to a major panel operator in Goa on March 4, 2024. This panel operator was in Goa for the launch of another betting book. Apart from this, money was seized during the search. Rs 48 lakh cash was found in the possession of the panel operator. During the search in this case, Rs 1764.5 crore has been seized and deposited. Two provisional attachment orders have been issued, in which movable and immovable properties have been attached. 142.86 crores. Prosecution complaints dated 20 October 2023 and 1 January 2024 have been filed in the case. Before the arrest of Girish Talreja and Suraj Chokhani, 9 accused had already been arrested in this case. Further investigation is ongoing.
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