Massive Gold Seizure Uncovers High-Stakes Online Betting Scam
The Enforcement Directorate has seized 40 kg of gold valued at Rs 50.33 crore during a probe into an online betting case involving Karnataka MLA K C Veerendra. Veerendra, the prime accused, allegedly operated illegal betting websites, with transactions amassing over Rs 2,000 crore in turnover.
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In a significant development, the Enforcement Directorate (ED) announced on Thursday the seizure of approximately 40 kg of gold, worth an estimated Rs 50.33 crore. The confiscation was made during fresh investigations into an online betting case allegedly involving Karnataka Congress MLA K C Veerendra.
According to the ED's statement, the 24-carat gold bullion was found in two lockers in Challakere, Chitradurga district, Karnataka. The owner of the gold remains unidentified. Veerendra, arrested in August, was caught during a business trip in Sikkim and is currently under judicial custody for his alleged role as the prime accused.
The agency has previously seized assets worth Rs 103 crore linked to this case, extending from gold bars to luxurious vehicles. The investigation revealed that Veerendra, alongside family and associates, managed illicit online betting sites, defrauding participants across India. The betting operations reportedly have a turnover exceeding Rs 2,000 crore.
(With inputs from agencies.)
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