ED chargesheets EaseMyTrip promoter in Mahadev betting app case, seeks to confiscate shares

The Enforcement Directorate has formally charged EaseMyTrip founder Nishant Pitti in the alleged Rs 5,000 crore Mahadev online betting app money laundering case. The chargesheet, filed on September 10 before a Raipur court, marks the sixth such document in the ongoing investigation. Pitti maintains he is unaware of any charges and has never been summoned by the court.

The Mahadev betting app case involves an alleged illegal online betting network, investigated by the ED through a series of websites and apps. Authorities claim the illicit funds were channeled through a complex web of shell entities, benami accounts, and other channels before being invested or used to acquire assets. In its latest chargesheet, the ED provisionally attached Pitti's DEMAT shares, valued at Rs 59.6 crore, under the Prevention of Money Laundering Act. The attachment order was issued simultaneously with the filing of the chargesheet.

The ED has also sought permission from the court to confiscate Pitti's shares, treating them as "proceeds of crime" under anti-money laundering laws. Pitti has expressed no comment on the matter, stating his continued cooperation with law enforcement bodies and his intention to submit detailed evidence to prove his innocence, as required by law.

So far, the ED has arrested 14 individuals and attached assets totaling Rs 1,885 crore. Police sources suggest the Mahadev betting app racket continues to operate, albeit under different identities.