Overview

• Fresh ED searches in Bengaluru and Challakere seized five luxury vehicles and extended a financial freeze to roughly ₹55 crore across bank, Demat and mule accounts.
• The agency alleges betting sites linked to K. C. Veerendra, including King567, Raja567 and Lion567, routed more than ₹2,000 crore through a single payment gateway in a short period.
• Investigators say payments were layered via gateways, escrow and TSPs before settlement into 262 mule accounts, with funds later siphoned through methods that included hawala.
• ED statements cite Dubai-based companies allegedly tied to the network through Veerendra’s brother and associates, naming Diamond Softech, TRS Technologies, Prime9Technologies and others.
• The Karnataka High Court has issued notice to the ED on a petition by Veerendra’s wife challenging the legality and framing of his August 23 arrest in Gangtok.