The Enforcement Directorate (ED), Bengaluru Zonal Office, has provisionally attached movable and immovable properties worth Rs 23.35 crore under the Prevention of Money Laundering Act (PMLA), 2002, in the case of K.C. Veerendra and Others, IANS reported, citing an ED statement. The attachment was made through Provisional Attachment Order No. 42/2026 dated October 23, representing the equivalent value of proceeds of crime found in the possession of K.C. Veerendra, Gulshan Khattar and Neha Tandon, the ED said.
Source: IANS via hi INDiA
The attached movable properties are valued at Rs 13.76 crore and the immovable properties at Rs 9.58 crore, the ED said. PublicNext, reporting the same ED action, also put the fresh attachment at Rs 23.35 crore, split between Rs 13.76 crore in movable assets and Rs 9.58 crore in immovable property.
Source: PublicNext
The ED said its investigation, initiated on the basis of multiple FIRs alleging cheating, cheating by impersonation, criminal conspiracy and extortion through online betting and gambling platforms, revealed an alleged nationwide network of betting websites, payment gateways, shell companies and mule accounts controlled by Veerendra and his associates. Players were allegedly induced to deposit funds and then cheated through manipulated betting operations and blocked withdrawals on platforms including King567, the ED said. These are the agency's allegations; the case is under trial process following prosecution complaints.
Source: IANS via hi INDiA
Proceeds of crime exceeding Rs 2,300 crore were traced and allegedly layered through multiple accounts, hawala channels and offshore entities, the ED said. It said proceeds were received through Fonepaisa Payment Solutions Private Limited, beneficially owned by Gulshan Khattar, and that SimTech IT Solutions, directed by Neha Tandon, had received credits from identified mule accounts linked to King567, with the company handled by her husband Khattar, according to the ED.
Source: IANS via hi INDiA
Earlier in the case, the ED conducted searches at more than 60 premises in several states, seized or froze cash, gold and silver jewellery, mule-account balances, vehicles and devices, and arrested Veerendra under the PMLA, the agency said. A prosecution complaint was filed on October 18, 2025 and a supplementary complaint on February 20, 2026, with cognisance taken by the Special Court, PMLA, on May 4, 2026, the ED said. An earlier attachment of Rs 177.30 crore was confirmed by the Adjudicating Authority in New Delhi, it added.
Source: IANS via hi INDiA