Saurabh Chandrakar, who defrauded lakhs of people of thousands of crores of rupees through betting app Mahadev, is in the headlines these days. The Enforcement Directorate (ED) has so far seized his assets worth more than Rs 400 crore. The central agency has told how he is enjoying in Dubai with his black money. Saurabh spent Rs 200 crore on his wedding and it is being compared to the wedding budget of families like Mukesh Ambani and Lakshmi Niwas Mittal, who are among the world’s biggest billionaires.
You can get an idea of how Saurabh Chandrakar spent money on his wedding from the fact that he had booked private planes for his family and relatives to go from Nagpur to Dubai. Not only this, Bollywood stars like Sunny Leone, Tiger Shroff, Neha Kakkar had come to perform at her wedding. According to ED, Saurabh Chandrakar and his partner Ravi Uppal earned thousands of crores of rupees in betting through Mahadev App. So far, evidence of money laundering worth Rs 5 thousand crore has been found.
Saurabh and Uppal are residents of Bhilai, Chhattisgarh. It is said that Saurabh is from a very ordinary family. He is not even very educated. His early life was full of struggles. Initially he used to sell juice in Bhilai itself. The name of the shop was Mahadev Juice Centre. While running a juice shop, he started betting and it is said that whatever he earned, he used to spend it in betting. However, he had to face defeat on most occasions.
Another promoter of Mahadev App and Saurabh’s partner is Uppal Engineer. Uppal had also lost money in betting. After this both of them went to Dubai together. After this he entered the world of bars, casinos and betting. Gradually both of them together created a huge empire of fraud. Earned thousands of crores of rupees. Chandrakar and his associates created more than 51 betting websites and apps. They used to increase the greed of people by giving huge profits on investing small amount and when someone invested big amount, they used to grab it.
‘Mahadev Online Book Betting Application’ is an important tool to provide online platform for illegal betting websites. Saurabh was operating the entire business sitting in Dubai. As the business became very big, he now added many people and started working through franchise. He was working on 70:30 profit model. He used to invest the income earned in India abroad through money laundering. ED has so far seized assets worth Rs 417 crore. ED had recently conducted raids against the money laundering network linked to Mahadev APP in cities like Kolkata, Bhopal, Mumbai etc.