IPL betting racket: IT department searches lead to Rs 100 crore unaccounted transactions

Police investigations into the racket have pointed towards possibility of the IPL betting racket being worth Rs 500 crores.

Published: 23rd April 2019 12:54 AM  |   Last Updated: 23rd April 2019 12:54 AM   |  A+A-

Notes, Money, Currency

For representational purposes

By Express News Service

BHOPAL: Ongoing Income Tax department searches at eight premises related to key players of an alleged online IPL betting racket busted by city police on Saturday have brought to the fore unaccounted transactions worth over Rs 100 crore.

The searches which started since Saturday late night at seven premises of seven to eight businessmen in Bhopal and later included another location in the MP capital on Monday have led the IT sleuths to entries in documents and diaries, which reveal unaccounted cricket betting transactions worth over Rs 100 crores. With more documents and diaries being probed, the unaccounted transactions could be higher than Rs 100 crores.

Besides, the preliminary tax evasion of Rs 100 crores, the IT department search has also unearthed an illegal money lending racket being run by one to two businessmen forming part of the international betting racket having prime links in Dubai. Hundis worth over Rs 4 crore have been seized.

While searches have ended at six locations, two locations including one location owned by Dubai-based alleged mastermind of the racket Dilip Nahlani in Ashoka Garden area of Bhopal are still being searched. Nahlini is being questioned by sleuths in connection with the racket which could grow bigger as the probe continues.

Police investigations into the racket have pointed towards the possibility of the IPL betting racket being worth Rs 500 crores.

Unaccounted cash totalling Rs 1.25 crore-plus (including around Rs 1.20 crore seized in the police operation on Saturday) and gold and silver bullions worth around Rs 7 lakh to Rs 10 lakh too have been seized.

Since the sole gold bullion seized from the premises of one of the businessmen is of foreign origin, hence that matter has been referred to the Directorate of Revenue Intelligence (DRI).

  

Stay up to date on all the latest News news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp