A massive illegal betting racket suspected to have generated over Rs. 100 crores (US$15.15 million) in unaccounted income has been uncovered and booked by tax authorities, local media reports.
The bust was made possible after authorities traced a suspicious paper trail coming from a casino all the way in Goa.
Tax officials conducted searches in 18 locations across the country last week, including Goa, Delhi, Noida and Kolkata. A house located in an upscale part of Gurgaon is suspected to have been serving as the headquarters of the betting racket.
Sources says that over Rs. 2 crores of cash have been seized, as well as jewellery and an unspecified amount of foreign currency.
Officials said they also found “substantial evidence” of illegal transfer of funds and unaccounted income.
“This is the most sophisticated betting racket that I have ever seen,” a senior tax official told local media outlet, NDTV.
The illegal betting operation used a custom built mini-telephone exchange, small enough to fit into two briefcases, which were connected with 27 mobile and smart phones and a laptop. They had invested heavily into their communication infrastructure for a high-bandwidth operation, the official said.