Madhavpura betting scam: Kingpin’s arrest brings hope of new leads
The investigation into the ₹2,300 crore dabba trading and cricket betting network known as the Madhavpura scam case has received a shot in the arm with the arrest of Deepak Thakkar, the alleged kingpin. With a rural court remanding Thakkar to custody for four days on Sep 2, the State Monitoring Cell (SMC) has renewed hope of uncovering crucial evidence against Harshit Jain, the alleged mastermind behind the operation.
In his primary interrogation, Thakkar said Jain, who is currently on the run, moved the substantial proceeds of the operation through hawala channels from Gujarat to Dubai in return for a hefty commission.
Amit Majethiya, accused of operating the country’s largest cricket-betting operation from Dubai, also considered Jain a key associate.
However, the SMC of the Gujarat police is yet to find concrete evidence against Jain.
In addition to Jain, Thakkar and Majethiya, bookie Saurabh (alias Mahadev), and one Bharat Thakkar are believed to be the key players in the illegal betting and trading network based out of Ahmedabad’s Madhavpura area. Deepak Thakkar is the only one of the five to have been apprehended so far. The others are all absconding.
What we know so far
Thakkar’s arrest came after the Central Bureau of Investigation (CBI) issued a Red-Corner Notice—a request to law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
Investigators have so far uncovered several details of the operation:
- Velocity Server: Thakkar allegedly obtained a velocity server from Samir, also known as Sam Nepali, in Dubai. Further investigation is ongoing to gather related electronic evidence.
- Seized Electronics: Authorities seized an all-in-one computer, laptop, and mobile phone from Thakkar. These devices revealed details of financial transactions worth crores of rupees under different IDs related to illegal betting activities.
- Bank Account Discovery: The investigation uncovered a bank account named “ND Traders”, opened by Naresh Dayaram Bhai Thakor, who works for Thakkar. This account was used for share market dabba trading transactions.
- Further Investigation: Due to the involvement of this bank account in illegal activities, it requires further investigation along with Thakkar.
- Angadia Transactions: Thakkar allegedly conducted transactions worth over ₹43.32 lakh through PM Angadia and HM Angadia companies.
- Financial Manipulation: The financial transactions and Thakkar's involvement will be scrutinised for potential financial manipulation and money laundering.
Thakkar is expected to be interrogated further, by other agencies, once his four-day remand ends.
Also read:
Madhavpura betting scam: Most wanted accused Deepak Thakkar arrested in Dubai
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