Daijiworld Media Network – New Delhi
New Delhi, Sep 10: In a sensational twist to the ongoing illegal betting and money laundering probe, the Enforcement Directorate (ED) has uncovered a massive stash of gold — including 21 kg of gold biscuits — linked to arrested Congress MLA K C Veerendra Pappi. The seizure, made during a raid on a bank in Challakere, has taken the total value of attached assets in the case to over Rs 100 crore.
Veerendra Pappi, who is already under arrest, has now been named the prime accused in the case involving illegal online betting operations and large-scale money laundering. The ED stated that Pappi, along with his family members and close associates, booked high-value international flight tickets worth several crores, allegedly funded through illicit earnings from online betting platforms.
According to the agency, the payments for these transactions were routed through a network of “mule” bank accounts that were directly linked to revenue generated from illegal betting sites.
“Funds used for these high-value transactions were diverted from illegal online activities and routed through multiple intermediary accounts to obscure their origin,” the ED said in a press release on Tuesday.
On September 6, ED officials raided Pappi’s bank lockers in Challakere, located in Chitradurga district, and were reportedly stunned to discover large quantities of gold hidden in a branch of Axis Bank. The seizure includes 21.43 kg of 24-carat gold biscuits, 10.98 kg of gold-coated silver bars spread across 11 units, and approximately 1 kg of gold jewellery.
The ED has not yet revealed the exact source of the seized gold, which has been confiscated under the provisions of the Prevention of Money Laundering Act (PMLA).
“With this seizure, the total value of attached proceeds of crime in this case has now exceeded Rs 100 crore,” the ED confirmed.
The investigation also revealed that Pappi allegedly operated a number of illegal online betting websites under names such as King 567, Raj 567, Lion 567, Play 567, and Playwin 567. According to the agency, several payment gateways were used to process and disguise the money collected through these platforms.