The Enforcement Directorate seized an additional Rs 46.10 crore hidden in 150 bank accounts, bringing the total amount of assets seized in relation to Satta King Rakesh Rajdev to Rs 49.15 crore. Earlier, Rs 3.05 billion from Rajdev’s accounts had been seized by the ED.
In connection with investigations being conducted into a case involving illegal betting involving Rakesh Rajdev and others, the ED searched a fintech company on March 27, 2023, leading to the identification and freezing of 150 bank accounts.
These searches were conducted in accordance with the Prevention of Money Laundering Act’s (PMLA) guidelines because the accounts in question were used to layer money that had been obtained from individual bettors via the website www.wolf777.com. Following the raid, the PMLA was used to freeze Rs 3.05 crore located in 10 bank accounts.
A thorough investigation by the ED revealed that the Rs 46.10 crore stashed in these 150 bank accounts had been passed through numerous fictitious entities. Thus, the total amount of the seizure is now Rs. 49.15 crore.
The case Began in Ahmedabad
After recording an Enforcement Case Information Report (ECIR) based on the FIR submitted by the Crime Branch police in Ahmedabad, the ED opened an investigation into Rakesh Rajdev.
According to the Ahmedabad Crime Branch FIR, the accused Rakesh Rajdev and others opened a bank account in Akash Ojha’s name using his PAN and Aadhaar without the man’s knowledge and used it to transfer Rs 170.70 crore in gambling revenue from the website www.wolf777.com.
An earlier statement from the ED said, “This website is providing a platform for placing bets on various types of speculative games such as ‘Teen Patti’, ‘Rummy’, ‘Andar Bahar’,’ Poker’ and also on various live games including cricket matches.
“They are asked to deposit money in their accounts for buying credits/coins through online mode and once money is deposited the person can place bets on the website using the login id and password.”