The Enforcement Directorate (ED) has provisionally attached assets valued at Rs 177.3 crore under the Prevention of Money Laundering Act (PMLA), 2002. This action is part of the investigation into illegal online betting and gambling linked to Congress MLA K.C. Veerendra and his associates. The ED has identified Proceeds of Crime (PoC) totaling Rs 2,300 crore in this case.
On the basis of evidence collected during the probe, the ED has attached assets directly held by MLA Veerendra. These assets are believed to be proceeds of crime and properties involved in money laundering. The total worth of attached assets in this case now exceeds Rs 320 crore under the PMLA provisions.
Proceeds of crime exceeding Rs 2,300 crore have been traced, generated through illicit online betting and gambling activities. These funds were then laundered through multiple layers of transactions. The attached assets comprise immovable properties like agricultural land and residential sites, along with other movable assets.
The ED’s investigation stemmed from multiple FIRs filed by police in various states under different IPC sections, classified as Scheduled Offences under the PMLA. These FIRs relate to cheating, impersonation, and extortion via illegal online betting websites, including king567 and related platforms. Veerendra and his associates have been identified as the key figures behind a nationwide illegal online betting network.
