A playing ring based mostly in India has been busted by the Directorate of Enforcement (ED), the nation’s financial intelligence company. The outcomes noticed regulation enforcement recuperate valuables, notably gold.
It stems from an ongoing investigation into politician, Ok C Veerendra, who was discovered to be serving to run the unlawful betting ring. Utilizing websites like King567 and Raja567, Veerendra and others behind the operation would reportedly funnel cash spent on the websites by way of varied laundering strategies, whereas additionally dishonest gamers out of their money.
Veerendra was arrested in August and stays in custody. The cash that was laundered can nonetheless be seen, as police have extensively documented what they’ve managed to recuperate to date.
Reported numbers of the betting ring’s earnings complete over ₹2,000 crore ($169,692,555), making it considered one of India’s largest monetary scams. The group would spend some funds on promoting, manipulating search engine outcomes by way of Search Engine Optimisation ways, and sending textual content messages in bulk.
India sees considered one of its largest scams as Veerendra playing ring raided
ED performed searches within the Ok C Veerendra unlawful on-line betting case, seizing 40 kg gold price Rs. 50.33 crore from Challekere lockers. Complete belongings seized to date exceed Rs. 150 crore. Investigation revealed Veerendra, an MLA, and associates ran betting websites like King567,… pic.twitter.com/Yj3i9vD2JK
— IANS (@ians_india) October 9, 2025
In the newest a part of the investigation, ED seized varied belongings that have been discovered on properties concerned. This has now surpassed ₹150 crore ($16,917,225). ED recovered 21KG of gold bars and 40KG of 24-carat gold bullion price ₹50.33 crore ($5,637,995). This was discovered amongst different valuables.
In August, when the ED raided 5 casinos linked with the betting ring, they seized a number of memberships to worldwide casinos. The company additionally seized 12 crore ($1,353,134.40) in money, with 1 crore ($112,761.20) in foreign exchange.
Throughout this raid, varied vehicles have been seized as nicely, all of which had the identical VIP registration quantity, 0003. Additionally they froze 17 financial institution accounts linked with the betting ring.
Police discovered a lot gold that the photographs shared with the general public included spelling out “ED” out of the gold bars recovered. ED will now proceed to the subsequent step of the investigation, with efforts being put in to uncover the complete community.
In September, Indian regulation enforcement additionally raided another gambling ring in gentle of tightening control over the trade.
Featured picture: KC Veerenda via Instagram, ED by way of Twitter
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