A gambling gang based in India has been busted by the Enforcement Directorate (ED), the country’s economic intelligence agency. The results saw law enforcement recover valuables, especially gold.
It stems from Ongoing investigation To politician KC Veerendra, who was found to be helping run the illegal betting ring. Using sites like King567 and Raja567, Veerendra and others behind the operation are said to be funneling money spent on the sites through various laundering methods, while also cheating players out of their money.
Virendra was arrested in August and remains in custody. The money that was laundered can still be seen, with police extensively documenting what they have been able to recover so far.
The total reported figures of profits from the betting ring are more than Rs 2,000 crore (US$169,692,555), making it one of the largest financial scams in India. The group will spend some money on advertising, manipulate search engine results through SEO tactics, and send bulk text messages.
India witnesses one of its biggest scams when the Veerendra gambling network was raided
The ED conducted searches in the KC Veerendra illegal online betting case and seized 40 kg of gold worth Rs. 50.33 crore from Challekere coffers. The total assets seized so far exceed Rs. 150 Crores. Investigation revealed that Veerendra, an MLA, and his associates ran betting sites like King567,… pic.twitter.com/Yj3i9vD2JK
– IANS (@ians_india) October 9, 2025
In the final part of the investigation, the ED seized various assets found at the properties in question. This has now crossed Rs 150 crore (US$ 16,917,225). The ED recovered 21 kg of gold bullion and 40 kg of 24-carat gold bullion worth Rs 50.33 crore ($5,637,995). This was found among other valuables.
In August, when the Executive Directorate raided five casinos linked to the betting ring, it confiscated multiple international casino memberships. The agency also seized Rs 12 crore ($1,353,134.40) in cash, of which Rs 1 crore ($112,761.20) was in foreign currencies.
During this raid, various cars were also seized, all bearing the same VIP registration number, 0003. They also froze 17 bank accounts linked to the betting ring.
Police found so much gold that photos shared with the public included the word “ED” written on the gold bars found. The emergency department will now move to the next step of the investigation, with efforts being made to uncover the entire network.
In September, the Indian Act also applied Another gambling ring raided in view of Tighten control On industry.
Featured Image: KC Verinda via InstagramEd via Twitter
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