K.C. Veerendra Puppy, a Congress MLA from Chitradurga, has become the focus of one of the Enforcement Directorate’s largest money laundering investigations this year. The agency alleges that Veerendra and his family financed international travel, bought luxury items, and even operated casinos abroad using funds linked to illegal online and offline betting.
According to officials, the network stretched beyond India, with ties to Sri Lanka, Nepal, and Georgia. Evidence reportedly includes profit-sharing spreadsheets and websites openly marketing casinos under Veerendra’s name. His family has dismissed the charges as politically motivated, while the ED says the scale of financial irregularities demands independent scrutiny.
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Seizures of Gold and Silver
During raids in Chitradurga, ED officers seized 21.43 kilograms of 24-carat gold bullion, 10.98 kilograms of silver, and nearly one kilogram of gold jewelry. The haul, valued at ₹24 crore, formed part of a larger tally: more than ₹100 crore in assets seized to date.
Officials described the seizures as proceeds of crime, routed through online betting platforms. The agency said its latest actions were conducted under provisions of the Prevention of Money Laundering Act (PMLA), which allows confiscation of assets linked to illicit financial activity.
The Betting Ecosystem
The investigation points to a network of online betting platforms—including King567, Raja567, and Lion567—that allegedly funneled crores of rupees into Veerendra’s operations. Through a single payment gateway, the ED claims, more than ₹2,000 crore passed in a short span of time.
Investigators have also traced transactions through multiple intermediary accounts, designed to obscure the source of funds. The money, they allege, was then redirected into high-value purchases such as foreign airline tickets, casinos leases, and real estate.
Political and Legal Implications
The case against Veerendra raises questions about the intersection of politics and shadow economies in India. For the ED, the investigation represents a test case in cracking down on the online betting industry, which has long operated in a legal gray zone.
For the Congress legislator, the charges strike at both his political standing and personal wealth. His defense team insists that the seizures are baseless and that the foreign travel expenses cited were legitimate. Yet, with raids, arrests, and mounting evidence of cross-border financial networks, the investigation appears set to expand.