ED arrests Ebix chairman in Mahadev betting app case, seizes Rs 940 crores in assets
The Enforcement Directorate has arrested Ebix Chairman Vikas Garg in connection with a money laundering investigation linked to the Mahadev betting app. Authorities have also attached assets worth over Rs 940 crore belonging to Garg and his associated companies.
Why it matters
This high-profile arrest underscores the ongoing crackdown on illegal betting networks and financial fraud in India.
The Enforcement Directorate (ED) on Tuesday arrested Ebix Chairman Vikas Garg in connection with the alleged money laundering linked to the Mahadev betting app case.Garg was arrested from his residence in Delhi and is being taken to Raipur after the agency secured a transit remand from a local court. He is expected to be produced before a special PMLA court in Raipur on Wednesday.The arrest comes days after the ED attached assets worth Rs 940.77 crore belonging to Garg, his family members and companies allegedly owned or controlled by him. This included 12 properties owned by his family across Delhi, Goa, Nainital, and other locations.According to the agency, proceeds of crime generated through the illegal betting network were routed into entities controlled by Garg.
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