The Enforcement Directorate (ED) arrested Congress MLA KC Veerendra from Sikkim, leading to investigations into his financial dealings. The probe has unveiled a scheme where black money was converted to white.
Veerendra, residing with his second wife in Bangalore, allegedly established shell companies to facilitate the process. His casinos were key in this operation. Credit card payments under various names were used, later offset by funds from cyber fraud. Luxury assets, including vehicles with exclusive number plates, were purchased under anonymous entities. His daughter recently completed studies in the UK.
Furthermore, the MLA’s online betting app, King567, is managed by his nephew, Prithvi, and operates from Dubai. Casinos linked to Veerendra also operate in countries like Sri Lanka, Nepal, and Georgia, under different names, with profits not always recorded.