Illegal betting scam: Seizure of proceeds of crime from K’taka Cong MLA Veerendra & others crosses Rs 100 crore
Illegal Betting Scam: ED Seizes Over Rs 100 Crore Linked to Congress MLA K.C. Veerendra
Bengaluru’s Enforcement Directorate (ED) has made a big breakthrough in the illegal online betting scam involving Congress MLA K.C. Veerendra. On Tuesday, the agency announced that the total seizures of crime proceeds have now crossed Rs 100 crore. This comes after fresh raids uncovered a stash of gold worth Rs 24 crore.
The ED’s Bengaluru Zonal Office kicked off searches on September 6 in Challekere under the Prevention of Money Laundering Act (PMLA), 2002. They targeted MLA K.C. Veerendra and his associates for allegedly cheating people through illegal online betting. During these raids, the team seized 21.43 kg of 24-carat gold bullion, 10.985 kg of gold-coated silver bars, and nearly 1 kg of gold jewellery—all valued at around Rs 24 crore. With this latest haul, the overall seized assets in the illegal betting case now top Rs 100 crore.
The ED carried out these operations while holding the prime accused, Chitradurga MLA K.C. Veerendra, in custody. Just a couple of days earlier, on September 4, a special court for people’s representatives extended his custody by four days. The court based this on solid documentary evidence showing how Veerendra generated and laundered money from the scam, giving the ED more time to dig deeper.
Investigators have uncovered that Veerendra and his team ran multiple online betting sites like King567, Raja567, Lion567, Play567, and Playwin567. They used various payment gateways to route the money collected from these platforms, making it tough to trace. The ED’s probe also points to Veerendra, his family, and close aides booking international flights worth crores of rupees. They funded these trips using a web of mule accounts tied directly to the illegal betting proceeds.
To hide the money trail, the funds from these shady online activities passed through several intermediary accounts. The ED has evidence that luxury vehicles linked to Veerendra and his family are registered under fake names. For instance, a Mercedes-Benz GLS 400 D 4MATIC (KA55P0003) is in the name of M/s ABH Infrastructures owned by Anil Gowda. Another, a Range Rover (KA45N0003), was funded by Gulshan Khattar of Fonepaisa.
The illegal betting scam investigation continues, with the ED promising more updates as they uncover additional details. Stay tuned for the latest on this high-profile money laundering case in Bengaluru.
