ED attaches Rs 23 crore in betting scam
CH NEWS, BENGALURU The Enforcement Directorate (ED) has intensified its financial crackdown in the multi-crore online betting and money laundering investigation, dealing a fresh blow to Chitradurga Member of Legislative Assembly K.C. Veerendra, widely known as Veerendra Puppy. In its latest enforcement action under the Prevention of Money Laundering Act (PMLA), the Bengaluru Zonal Office provisionally attached movable and immovable assets valued at 23.35 crore rupees belonging to the MLA and his associates. The newly targeted properties include movable holdings worth 13.76 crore rupees encompassing bank deposits and corporate investments alongside immovable assets valued at 9.58 crore rupees, comprising commercial real estate, residential buildings, and land parcels. Alongside Veerendra, the attachment order extends to assets held by key co-accused individuals Gulshan Khattar identified as a beneficial owner linked to payment gateway networks and Neha Tandon. With this latest provisional order, the cumulative value of assets attached, frozen, or seized by federal investigators in connection with the sprawling betting racket has crossed 343 crore rupees. The high-profile money laundering probe centers around the widespread operation of unauthorized digital betting applications, notably 'King 567', which federal agencies accuse of defrauding online participants through manipulated gaming algorithms and deceptive platforms. According to detailed findings released by the ED, the illicit enterprise successfully generated and laundered crime proceeds exceeding 2300 crore rupees. Investigators revealed that the massive financial inflows were systematically layered through a complex web of shell companies, vulnerable 'mule' bank accounts, unauthorized payment gateways, and informal hawala networks before being channeled into foreign remittances, luxury holdings, and commercial investments. The ongoing investigation previously triggered coordinated search operations across more than 60 locations nationwide, resulting in the historic seizure of large quantities of unaccounted cash, high-value gold bullion, luxury automobiles, and critical digital evidence. MLA K.C. Veerendra was originally apprehended by ED operatives on August 23, 2025, during a visit to Gangtok, Sikkim. Following roughly four months of incarceration under judicial custody at Bengaluru's Parappana Agrahara Central Prison, he secured conditional bail from a special court designated for elected representatives on December 30, 2025. As financial auditors and enforcement teams continue tracing cross-border fund flows and virtual digital asset conversions, federal authorities indicated that further legal proceedings and asset seizures are imminent.
