ED arrests Ebix group chairman Vikas Garg in illegal betting case
The Enforcement Directorate has arrested Ebix group chairman Vikas Garg in connection with a money laundering investigation linked to the Mahadev online betting app. Authorities allege that Garg used illegal betting proceeds to acquire stakes in various companies.
Why it matters
The case represents a significant crackdown on large-scale financial fraud and the laundering of illegal betting proceeds through legitimate corporate entities.
The Directorate of Enforcement (ED) on Tuesday (July 14, 2026) stated that it has arrested Vikas Garg, chairman of Ebix group, in a multi-crore-rupee money laundering case linked to the Mahadev online betting app.
It is alleged that the 53-year-old businessman routed ill-gotten money from the betting app into the entities owned and controlled by him.
“Vikas Garg, chairman of Ebix, has been arrested by ED in the case of Mahadev online betting case. He was arrested by ED from his house at Delhi and being taken to Raipur after obtaining transit remand from the court. He will be produced before PMLA [Prevention of Money Laundering Act, 2002] Court, Raipur tomorrow,” a press release issued by the agency said.
Last week, the ED had stated that it has attached properties of Vikas Garg, his family members and entities owned and controlled by him, valued at ₹940.77 crore.
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