HYDERABAD: The Enforcement Directorate (ED) on Wednesday conducted raids at eight places in Hyderabad belonging to two suspects —Praveen Chikoti in Saifabad and Madhav Reddy from Bowenpally — and one place in Andhra Pradesh, and reportedly unearthed several instances of violation of the Foreign Exchange Management Act (FEMA).
According to ED sources, Chikoti and Madhav Reddy are involved in ‘All In’ Casino Vegas by Big Daddy at Hotel Mechi Crown Jhapa in Nepal where they organise high stakes gambling for Indians who prefer to indulge in the safety of a neighbouring country.
According to the sources, Praveen and Madhav Reddy facilitate the transfer of the stakes at the casino, running into lakhs of rupees, through hawala channels, thus allegedly violating FEMA rules.The sources said that the duo had utilised the services of some agents to attract customers and take them to Nepal.
The agents reportedly charge `3 lakh per head for a four-day package which includes flight charges, food, hotel stay, drinks, and entertainment.
These customers hail from Guntur, Vijayawada, Nellore, Hyderabad and Visakhapatnam, the sources said.
It is pertinent to mention here that Praveen had earlier been arrested in an extortion case in 2017. According to ED sources, Praveen organised a high stakes game in the intervening night of June 11 and 12, word of which leaked, resulting in the ED raids on Wednesday.