The Directorate of Enforcement (ED) has chargesheeted a popular travel website’s co-founder in the Mahadev online betting app money laundering case, accusing him of actively assisting another co-accused in layering the proceeds of crime through stock market manipulations.
According to the charge sheet filed in a special Prevention of Money Laundering Act (PMLA) court in Raipur on September 10, 2026, the accused, on behalf of the promoters of a travel planner firm , entered into a pre-arranged stock price manipulation deal with Amardeep Sharma to artificially inflate the share price and market capitalisation of another firm . The charge sheet described Mr. Sharma as an associate of Hari Shankar Tiberwal, a co-accused in the case. Earlier statements by the ED have described Mr. Tiberwal as a hawala operator based in Dubai who was operating Skyexchange, an illegal betting platform.
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