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The Central Bureau of Investigation (CBI) has conducted searches at 33 locations across six states and Delhi as part of its investigation into the Mahadev Online Book illegal betting network. The operation targeted suspected betting operators and uncovered digital devices, financial records and evidence of alleged mule bank accounts and hawala transactions.
The searches followed disclosures made during the interrogation of Saurabh Chandrakar, a key accused in the case, who was brought back from Oman and arrested on November 1.
Where Did CBI Conduct the Searches?
The coordinated operation covered several major cities, including Raipur, Durg, Bhopal, Nagpur, Indore and Mumbai. Searches were also carried out in Delhi, Nagaur, Dholpur, Ahmedabad, Vadodara and Surat over the past few days.
According to investigators, the searches targeted premises associated with individuals allegedly operating betting panels connected to the Mahadev Online Book network.
CBI teams seized mobile phones, electronic devices and documents containing information about suspected financial transactions and bank accounts operated in other people’s names.
Investigators believe these accounts were used to receive betting proceeds and subsequently transfer the money through informal hawala channels. The agency suspects that parts of the betting network continued operating despite ongoing criminal investigations.
However, the CBI has not disclosed how many betting panels were dismantled or whether the latest searches resulted in additional arrests.
What Did Investigators Discover About the Betting Network?
The investigation has focused on the financial and operational structure of the alleged illegal betting syndicate.
According to the CBI, panel operators managed betting identification accounts and received payments through accounts opened or hired in the names of third parties.
The proceeds were allegedly transferred through hawala channels to individuals directing the operations from overseas. Investigators suspect that the network continued recruiting customers, collecting wagers and moving funds despite earlier action against its operators.
Chandrakar’s interrogation reportedly provided information about the network’s structure and individuals operating betting panels in India.
The CBI is examining two First Information Reports transferred by the Chhattisgarh government. Its investigation also covers the suspected involvement of facilitators, public servants and other accused individuals, including those based abroad.
Separately, the Enforcement Directorate (ED), in a November 13 remand application, alleged that Mahadev Online Book operations continued after its principal prosecution complaint in October 2023.
The ED provisionally estimated suspected proceeds of ₹75,000 crore to ₹80,000 crore from Mahadev Online Book, ₹11,000 crore to ₹12,000 crore from Skyexchange and ₹2,400 crore from Lotus365.
These figures remain investigative estimates requiring further evidence and should not be treated as confirmed criminal proceeds.
What Is the Latest Development in Saurabh Chandrakar’s Case?
Chandrakar’s interrogation has become central to efforts to identify individuals allegedly controlling betting operations and financial transactions. The ED sought an extension of his police custody, but Special Judge Manoj Kumar Singh Thakur declined the request in an order dated November 12.
The court observed that investigators had already received sufficient time for questioning and remanded Chandrakar to judicial custody until November 19. The ED subsequently arrested him separately at the Raipur court complex on November 13 under Section 19 of the Prevention of Money Laundering Act.
Investigators have also expressed concerns that rented bank accounts, SIM cards and identity documents used for illegal betting operations could expose their holders to criminal prosecution.
The latest CBI searches have brought renewed attention to the suspected financial infrastructure supporting the betting network, particularly the use of mule accounts and hawala transactions to move proceeds.
The investigation remains focused on identifying active panel operators, tracing financial transfers and determining who continues to control the alleged overseas-linked betting operations.
