By Trend News Line 2024-06-02 18:25:00.
The Mahadev Online Book Betting Empire’s Strategic Relocation Plan
After facing intense scrutiny from the Enforcement Directorate (ED) in Dubai, the promoters of the Mahadev Online Book betting empire have decided to relocate their operations to Sri Lanka. This move comes as a strategic decision to shift their headquarters and subsidiary operations to a new location.
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Exposure of UAE Operations
During the ED investigation, every aspect of Mahadev’s operations in the UAE was meticulously examined. Details about the Dubai-based headquarters, subsidiary app operations, shell corporations, hawala transactions, and associated entities were uncovered. This thorough probe shed light on the intricate workings of the betting empire.
Financial Probe Agency’s Findings
The ED investigation revealed that the promoters of the Mahadev app had been exploring opportunities in Sri Lanka for the past year and a half. By investing in the Sri Lankan real estate market and other businesses under the guise of legitimate ventures, they laid the groundwork for their expansion. This strategic move was aimed at capitalizing on the economic vulnerabilities and opportunities presented by the crisis in Sri Lanka.
Promotion in the Lanka Premier League
The involvement of Mahadev app promoters in Sri Lanka came to light when the Pakistan-based Kheloyar app, a subsidiary of the Mahadev betting app, sponsored the Lanka Premier League (LPL) 2023. Prominent sponsors in the league, including Kheloyar, were visible on jerseys, helmets, and advertisements during the matches.
Failed Relocation Attempts
Following the issuance of a Red Corner Notice against the prime movers of the Mahadev app, attempts were made to relocate the business empire to Caribbean and African countries. Nitish Diwan, a key figure in the saga, disclosed that plans to move to Zimbabwe were thwarted by local and international betting mafias. This setback led to the failure of their relocation efforts.
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Opportunity in Sri Lanka
Despite strict laws regulating sports betting in Sri Lanka, the unstable government and economic crises have created an opportunity for the Mahadev Online Book promoters to enter the market. With many associates visiting Sri Lanka in recent months, the agency is unsure whether the move signifies a shift in the betting business module or a complete relocation from Dubai to Sri Lanka.
Uncertain Future
As the promoters of the Mahadev Online Book betting empire navigate the complexities of international law enforcement and economic opportunities, their future remains uncertain. Whether they will continue to operate from Dubai, relocate to Sri Lanka, or explore other options, only time will tell.
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– Dubai Expose Betting Empire Sri Lanka Move
– Dubai Betting Empire Considers Sri Lanka Move.
