ED arrests Vikas Garg, chairman of Ebix group, in money laundering case linked to Mahadev betting app
The Enforcement Directorate arrested Ebix group chairman Vikas Garg in a money-laundering probe linked to the Mahadev online betting app.
AI generated- The Enforcement Directorate said it arrested Vikas Garg in a money-laundering case linked to the Mahadev online betting app.
- Vikas Garg is identified in the release as the chairman of Ebix group.
- The Enforcement Directorate said Vikas Garg was arrested from his Delhi residence and taken to Raipur on transit remand.
- The Enforcement Directorate said Vikas Garg would be produced before the PMLA court in Raipur the next day.
What happened
The Enforcement Directorate said it arrested Vikas Garg, chairman of the Ebix group, in a money-laundering case linked to the Mahadev online betting app. The agency said the arrest was made from his Delhi residence and that he was taken to Raipur on transit remand, with production before the Prevention of Money Laundering Act, 2002 (PMLA) court scheduled for the next day.
The Enforcement Directorate alleged that Garg routed proceeds from the betting operation into entities owned or controlled by him. The release presents the arrest as part of a larger probe into alleged laundering of illicit funds generated through the betting platform.
UPSC may ask how the Prevention of Money Laundering Act, 2002, enables investigation of proceeds of crime and how digital platforms can be used to layer illicit funds. The case also raises questions on inter-agency coordination, jurisdiction, and the evidentiary chain in economic offences.
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