The ED said it brings the value of assets seized in the case to over ₹150 crore ($16.9m).
India.- The Enforcement Directorate (ED) has seized 40kg of gold of 24-carat gold bullion worth ₹50.33 crore (US$5.6m) during search operations in connection with an illegal online betting case involving Karnataka assembly member KC Veerendra.
The searches were carried out by the ED’s Bengaluru Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The gold was seized from two lockers in Challakere. The ED said it brings the value of assets seized in the case to over ₹150 crore ($16.9m). Previous seizures include 21kg of gold bars, cash, gold and silver jewellery, bank accounts and vehicles.
Veerendra and his associates are alleged to have operated multiple illegal online betting platforms.
The ED said: “The probe revealed Veerendra in association with other friends and family members is involved in operations of many illegal online betting websites – King567, Raja567, etc. and cheating innocent players through the same. The funds collection from players has been routed using several gateways like FonePaisa etc. The money so collected is routed through several mule accounts which are sourced by these betting operators from intermediaries from all across India.”
India’s Supreme Court schedules hearing on online gaming ban
The Supreme Court of India has set a hearing date for November 4, 2025, to hear consolidated petitions challenging the Promotion and Regulation of Online Gaming Act, 2025, a law that has halted real-money gaming nationwide. Justices J.B. Pardiwala and K.V. Viswanathan decided to defer proceedings until after the Diwali recess to allow parties to complete their pleadings.
Online gaming firms say the ban has led to layoffs and closures across multiple platforms. Senior advocate C.A. Sundaram, appearing for Head Digital Works, operator of the skill-based platform A23, called for early relief, saying “our business is completely closed, employees have been laid off, and the issue has national ramifications.”
The ED said it brings the value of assets seized in the case to over ₹150 crore ($16.9m). India.- The Enforcement Directorate (ED) has seized 40kg of gold of 24-carat…
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