<p>Bengaluru: The Enforcement Directorate (ED) on Wednesday said that it initiated fresh search operations in the premises linked to Congress MLA KC Veerendra Puppy, in connection with an illegal online and offline betting case. </p><p>The raids were held on Tuesday in Bengaluru and Challakere in Chitradurga under the provisions of PMLA, 2002 </p><p>During the searches, five high-end vehicles, including Mercedes Benz with VIP numbers 0003 viz. (KA-50-MB-0003), (KA-09-ML-0003), (KA-53-MD-0003), (KA-53-MH-0003), (KA- -16-P-0003) and one Mercedes Benz with VIP number 5267 KA 02 MU 5267 were seized. </p> .Illegal betting case: Congress MLA Veerendra Puppy sent to ED custody for six more days.<p>"Further, an amount of Rs 55 crore (approximately) were marked freeze, including Rs 40.69 crore (approximately) in nine bank accounts and one Demat account of KC Veerendra Puppy and a total amount of Rs.14.46 crore (approximately) in 262 mule accounts recovered from one of the accused gateways through which money collected by multiple gaming websites being operated by K C Veerendra Puppy and his associates were being routed," the agency said.</p><p>"The said searches and tracing of Proceeds of Crime (POC) have been undertaken during the ED Custody of prime accused MLA Chitradurga District, K C Veerendra," it added.</p> .<p>K C Veerendra Puppy is currently in ED custody after his arrest on August 23, following raids the previous day. </p><p>"ECIR was recorded earlier against K C Veerendra Puppy and others related to cheating the public in illegal online betting cases. Further investigation has revealed that the accused is running several online betting sites in the name of King567, Raja567, Lion567, etc. </p><p>"It has also been revealed that several gateways have been used for routing payments collected through these websites. The money collected from these websites being operated by KC Veerendra and his associates through a single gateway alone is more than Rs 2,000 Crore in a short span of time," the agency said. </p><p>ED suspects that many Dubai-based entities like Castle Rock Project Management Services, Lascaux Core Project Management Services etc. have been incorporated by KC Veerendra Puppy in partnership with brother K C Thippeswamy and nephew Pruthvi N Raj, associate Anil Gowda and others.</p> .<p>"ED investigation revealed that the said mule accounts are provided by various middlemen to the operators of these gaming websites, in this case Appu alias Pruthvi N Raj (nephew of K C Veerendra), who in turn use the same to collect the funds received from various players," the agency said. </p><p>"These transactions include layering the said money deposits of players through escrow accounts of gateways and TSPs and then making settlement in mule accounts which are controlled by the gaming site owners. </p><p>"These funds are further siphoned off in various ways, including through hawala transactions. It has also been revealed that K C Veerendra Puppy and his associates in Dubai are operating several gaming websites by using various gateways and fintech service providers for layering of funds and for masking their illicit activities as genuine e-commerce businesses. Further investigation is under progress." </p>
<p>Bengaluru: The Enforcement Directorate (ED) on Wednesday said that it initiated fresh search operations in the premises linked to Congress MLA KC Veerendra Puppy, in connection with an illegal online and offline betting case. </p><p>The raids were held on Tuesday in Bengaluru and Challakere in Chitradurga under the provisions of PMLA, 2002 </p><p>During the searches, five high-end vehicles, including Mercedes Benz with VIP numbers 0003 viz. (KA-50-MB-0003), (KA-09-ML-0003), (KA-53-MD-0003), (KA-53-MH-0003), (KA- -16-P-0003) and one Mercedes Benz with VIP number 5267 KA 02 MU 5267 were seized. </p> .Illegal betting case: Congress MLA Veerendra Puppy sent to ED custody for six more days.<p>"Further, an amount of Rs 55 crore (approximately) were marked freeze, including Rs 40.69 crore (approximately) in nine bank accounts and one Demat account of KC Veerendra Puppy and a total amount of Rs.14.46 crore (approximately) in 262 mule accounts recovered from one of the accused gateways through which money collected by multiple gaming websites being operated by K C Veerendra Puppy and his associates were being routed," the agency said.</p><p>"The said searches and tracing of Proceeds of Crime (POC) have been undertaken during the ED Custody of prime accused MLA Chitradurga District, K C Veerendra," it added.</p> .<p>K C Veerendra Puppy is currently in ED custody after his arrest on August 23, following raids the previous day. </p><p>"ECIR was recorded earlier against K C Veerendra Puppy and others related to cheating the public in illegal online betting cases. Further investigation has revealed that the accused is running several online betting sites in the name of King567, Raja567, Lion567, etc. </p><p>"It has also been revealed that several gateways have been used for routing payments collected through these websites. The money collected from these websites being operated by KC Veerendra and his associates through a single gateway alone is more than Rs 2,000 Crore in a short span of time," the agency said. </p><p>ED suspects that many Dubai-based entities like Castle Rock Project Management Services, Lascaux Core Project Management Services etc. have been incorporated by KC Veerendra Puppy in partnership with brother K C Thippeswamy and nephew Pruthvi N Raj, associate Anil Gowda and others.</p> .<p>"ED investigation revealed that the said mule accounts are provided by various middlemen to the operators of these gaming websites, in this case Appu alias Pruthvi N Raj (nephew of K C Veerendra), who in turn use the same to collect the funds received from various players," the agency said. </p><p>"These transactions include layering the said money deposits of players through escrow accounts of gateways and TSPs and then making settlement in mule accounts which are controlled by the gaming site owners. </p><p>"These funds are further siphoned off in various ways, including through hawala transactions. It has also been revealed that K C Veerendra Puppy and his associates in Dubai are operating several gaming websites by using various gateways and fintech service providers for layering of funds and for masking their illicit activities as genuine e-commerce businesses. Further investigation is under progress." </p>
