ED Seizes ₹150 Cr in Betting Case Linked to MLA
The Enforcement Directorate (ED) has seized assets worth over ₹150 crore in connection with an illegal online betting and money laundering case tied to Congress MLA K. C. Veerendra (Puppy) from Karnataka.
Major Seizures Made
During raids, ED officials retrieved around 40 kg of 24-carat gold bullion, valued at about ₹50.33 crore, from lockers in Challakere. Earlier seizures had included gold, cash, jewellery, luxury vehicles, and bank balances totaling over ₹100 crore. Authorities say this brings the total seizure above ₹150 crore.
Allegations and Operations
The ED claims Veerendra and his associates ran multiple betting platforms—including King567 and Raja567—that defrauded participants. Funds collected, they allege, were routed through a web of “mule accounts” and payment gateways to obscure origins. The agencies estimate the betting operation had a turnover of over ₹2,000 crore.
Previous Actions and Custody
Veerendra was arrested in August 2025 and is in judicial custody. Earlier, the ED froze about ₹55 crore in his accounts and seized six luxury vehicles. The Karnataka High Court has also issued notices regarding petitions challenging his arrest and stay orders in related proceedings.
Issues and Legal Challenges
MLA Veerendra has denied direct ownership of implicated companies. His wife has petitioned that his arrest was arbitrary and politically motivated. Legal experts note such cases hinge on tracing the money trail clearly and proving control of entities. The case is now under further investigation.
