UAE officials have arrested Saurabh Chandrakar, the alleged mastermind, in the multicrore Mahadev Online Book scam on the charges of money laundering, sources told The Economic Times. The Enforcement Directorate is expected to send a formal extradition request soon. The investigating agency was communicated about the arrest on Thursday, sources added further. Earlier this year, ED had found that these accounts were instrumental in laundering large sums of money through the app’s operations, with approximately Rs 1,100 crore being funnelled into the share market alone. Additionally, the scam is estimated to involve thousands of sim cards and other means of evading detection.The Mahadev betting app, run from Dubai by its promoters Saurabh Chandrakar and Ravi Uppal, has drawn the attention of multiple investigative agencies. The app operated as an umbrella syndicate, providing platforms for illegal betting websites and laundering money through a sophisticated network of benami accounts. The international operations of the app have complicated efforts by authorities to bring the key players to justice(more to come)
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