ED investigation revealed that illegal Online Betting App such as Dhangames and other Satta Matka Apps were being operated in Madhya Pradesh, Karnataka and other parts of the country to lure unsuspecting masses
FinTech BizNews Service
Mumbai, January 20, 2024: Directorate of Enforcement (ED) has provisionally attached movable/immovable properties valued at Rs. 8.89 Crore approx. under the provision of Prevention of Money Laundering Act, 2002 which were found to be acquired from Proceeds of Crime in the case of illegal online satta matka betting, according to ED’s Press Release issued on 19/01/2024.
The attached properties comprise of 10 immovable properties and 5 bank accounts which are in the name of various accused persons including the main mastermind Lokesh Verma alias Raja Verma. ED initiated investigation on the basis of FIR registered and Chargesheet filed by Madhya Pradesh Police for the offences registered under various sections of IPC, 1860 and Public Gambling Act 1867.
ED investigation revealed that illegal Online Betting App such as Dhangames and other Satta Matka Apps were being operated in Madhya Pradesh, Karnataka and other parts of the country to lure unsuspecting masses. The app allowed users to register via mobile number and transfer money to Dhangames wallet via UPI and also indulge in betting. Illegal money generated through these Satta Matka Apps were laundered through web of bogus bank accounts opened by Lokesh Verma in the names of dummy persons by misusing their KYC documents to run betting operations. Lokesh Verma in connivance with others generated proceeds of crime totalling to Rs. 25 Crore approx. from betting operations. Further investigation is under progress.
