Ravi Uppal and Sourabh Chandrakar, the alleged founders of Mahadave app, have denied any connection with the betting app. They also denied all accusations levelled against them. In their first statement issued following the controversy, they claimed that they have been made "scapegoats" by the real mastermind behind the betting app.
"They express profound regret at being wrongly accused and portrayed as masterminds of this operation. They assert that these claims are entirely baseless and represent an attempt to tarnish the reputation of two law-abiding citizens. They believe the investigation has been inadequate, and instead of revealing the truth, it seems focused on scapegoating. Merely living a comfortable lifestyle, they emphasize, does not imply their involvement in illicit activities," read the official statement issued by their team.
Uppal and Chandrashekar alleged that the real mastermind behind the app is someone called Shubham Soni.
"According to credible documents and sources, Mr. Soni operates through a company named 'Mahadevbook Markets Limited,' registered in Saint Vincent and the Grenadines. He holds the position of shareholder and director on the 'Mahadevbook Markets Limited board,' conclusively establishing him as the principal architect of this operation," read the statement issued.
Uppal and Chandrakarhave stated that they are willing to cooperate with all law enforcement agencies in their investigations into the scam.
What is the Mahadev Scam?
The Mahadev scam came under ED's scanner after one of the founders had a lavish Rs 250 crore wedding in the UAE. After his wedding, the ED uncovered alleged hawala operations and connections in the UAE and Pakistan. The app reportedly makes Rs 200 crores daily through instant messaging on its app which allows users to engage in online betting.
Bollywood celebrities such as Ranbir Kapoor, Shraddha Kapoor, Hina Khan, Huma Qureshi, Boman Irani and many more were spotted at Chandrshekar's UAE wedding and then summoned by the ED.
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