ED Seizes ₹50.33 Crore in Gold from Karnataka MLA in Massive Online Betting Crackdown; Total Seizures Cross ₹150 Crore
ED Seizes 40 Kg Gold Worth ₹50 Crore From MLA KC Veerendra In Karnataka: In a major development in the ongoing crackdown on illegal online betting, the Enforcement Directorate (ED) has seized approximately 40 kilograms of gold worth ₹50.33 crore from two lockers in Karnataka’s Chitradurga district. The seizure is part of a larger investigation in which total assets worth over ₹150 crore have been confiscated so far.
Karnataka Congress MLA K.C. Veerendra has been identified as the prime accused in the case. He was arrested recently in Sikkim, where he was allegedly attempting to lease a casino. Veerendra is currently in judicial custody, with the ED officially designating him as the main figure behind a sprawling illegal online betting network.
Earlier, the ED had seized about 21 kg of gold bars, cash, gold and silver jewelry, luxury vehicles, and froze multiple bank accounts, cumulatively valued at around ₹103 crore.
Fake Betting Apps & Cybercrime Nexus
According to the ED’s findings, the illegal betting operation was conducted through fake online platforms with names like King567, Raja567, and similar aliases. These apps were used to lure unsuspecting individuals into betting, only to defraud them by manipulating the platforms and stealing their money.
The investigation has revealed that the network used “mule accounts” — bank accounts opened in the names of individuals, often in exchange for small payments — to circulate funds across various parts of India. These proceeds were further used to finance international travel, obtain visas, and cover platform marketing and hosting services.
A Larger Web of Cybercrime
ED officials have also uncovered links between the betting syndicate and broader cybercrime networks. The fraudulent funds were reportedly laundered and transferred to various entities, both within and outside India, indicating a well-structured and deeply embedded criminal operation.
The agency has not ruled out more arrests and further seizures in the coming weeks. Sources within the ED confirm that investigations are ongoing, and more political and business links are being probed.
The online betting racket first came to light earlier this year when multiple cybercrime complaints were filed across various Indian states. The central agency was brought in after preliminary probes revealed interstate and international money laundering links.
With mounting pressure to regulate the online gambling industry and address its connection to financial fraud, the ED’s latest actions mark a significant milestone in India’s efforts to crack down on digital economic crimes.
ALSO READ: What Your Sleeping Position Reveals About Your Personality
