The Enforcement Directorate (ED) filed a third supplementary charge sheet in the Mahadev App online betting case in special PMLA court in Raipur, Chhattisgarh, on Tuesday. The extensive charge sheet includes the names of 8 accused and 17 companies linked to betting Hawala transactions. In the supplementary charge sheet, apart from the arrested accused Suraj Chokhani and Girish Talreja, the agency declared Harishankar Tibrewal,Sandeep modi,kamal kishor,Prashanti Bagri and other two accused, as absconding accused in the Mahadev betting scandal.
According to reliable sources cited in the supplementary charge sheet, the absconding accused Hari Shankar Tibrewal allegedly identified as a key player in the Mahadev betting app syndicate. Currently residing in Dubai but originally from Kolkata, Tibrewal is partnered with Mahadev betting app pramoter operating illegal betting app 'Skyexchange'.
ED supplementary chargesheet alleged that Absconding accused Hari Shankar Tibrewal accused of laundering substantial funds earned from the Skyexchange betting site into the stock market through 17 dummy Indian and offshore companies.These dummy companies, under the directorship of Tibrewal's close associate and arrested accused Suraj Chokhani, allegedly diverted a staggering ₹423 crore (as of February 29) to stock portfolios on the instructions of Tibrewal.
The accused dummy company involved in laundering the Skyexchange betting money to the stock market is--
# M/S Ability Games Private Limited
# M/S Ability Smarttech Private Limited
# M/S Ability Ventures Private Limited
# M/S Brillinant Investment Consultants Private Limited
# M/S Discovery buildcon private Limited
# M/S Forest Vincom Private Limited
# M/S Swarnabhoomi vanijya Private Limited
# M/S Dream Achievers Consultancy Private Limited
# M/S Ecotek Genral Trading LLC
# M/S Zenith multi trading DMCC -(Dubai based Company)
# M/S Plus commodities DMCC --(Dubai based Company)
# M/S Caterfield Global DMCC --(Dubai based Company) . and others. during the ED investigation revealed Together with these dummy companies absconding accused Tibrewal account for a total investment of Rs. 423 crore in the stock market. According to ED, most of these investments were in small and mid-cap stocks.
ED has identified and frozen Indian companies under the control of Tibrewal and his associates, holding securities worth Rs. 580 crore in stock portfolios. Foreign entities also invested in India via the FPI route and were found to be holding securities worth Rs. 606 crore in stock portfolios.
The ED's probe also found evidence of cash earned from the betting business being injected into these companies, either directly or indirectly, to be invested in the stock market. An Excel sheet recovered during the ED search detailed how these companies converted the betting funds to bank entries using the services of professional entry operators.
This was done to obtain bank balance in bank accounts, with transactions in the name of unlisted equity being undertaken with professional entry operators.
According to ED supplementary chargesheet, arrested accused Girish Talreja, is hawala operator from Bhopal, who is the promoter of Lotus365. during the ED investigations revealing his association with Shubham Soni and Ratanlal Jain from Bhopal. Notably, substantial transactions worth crores of rupees have been traced between Shubham Soni, Pradeep Talreja, and Ratanlal Jain. Investigations have revealed that Pradeep Talreja is also one of the promoters of the Mahadev betting app.
