Bengaluru, Jan 29 (NationPress) The Enforcement Directorate (ED) has provisionally attached assets valued at Rs 177.3 crore under the Prevention of Money Laundering Act (PMLA), 2002, in connection with an illegal online betting and gambling case linked to Congress MLA K.C. Veerendra and his associates. The ED has also identified Proceeds of Crime (PoC) amounting to Rs 2,300 crore.

As stated by the ED's Bengaluru Zonal Office, "Based on substantial evidence collected during the investigation, the ED has provisionally attached assets owned by MLA Veerendra, which are believed to be Proceeds of Crime involved in money laundering. This brings the total assets attached in this case to over Rs 320 crore under PMLA provisions."

"The investigation has revealed proceeds of crime exceeding Rs 2,300 crore generated through illegal online betting and gambling activities, laundered through complex transaction layers," the statement continued.

The assets attached consist of immovable properties like agricultural land and residential sites, as well as other movable assets.

The attachment order confirms that assets worth Rs 177.3 crore have been provisionally secured.

The ED's investigation was initiated following multiple FIRs filed by police across various states under different sections of the IPC, which are considered Scheduled Offences under PMLA.

These FIRs relate to cheating, impersonation, and extortion via illegal online betting websites, including king567 and other affiliated platforms. Findings indicate that Veerendra and his associates orchestrated a nationwide illegal online betting operation using similar tactics, according to the ED.

The investigation has shown that the accused generated significant proceeds of crime by defrauding the public through these online betting schemes. Players were enticed to wager money on rigged illegal gaming sites resembling online casinos; their deposits, amounting to crores of rupees, were funneled via payment gateways into designated aggregator accounts.

Initially, victims were shown fictitious winnings to gain their trust, only to be ultimately blocked from withdrawing their funds. The inquiry has uncovered the use of numerous mule accounts and various payment gateways for laundering the Proceeds of Crime, the ED reported.

Previously, the ED conducted extensive search and seizure operations at over 60 locations across multiple states under Section 17 of PMLA, seizing large sums of cash, gold bullion, jewelry, vehicles, digital devices, and incriminating documents.

Additionally, the ED arrested Veerendra under Section 19 of PMLA and has submitted a prosecution complaint to the Special Court (PMLA).

The investigation continues to trace the remaining proceeds of crime and identify all involved beneficiaries.