A gambling ring based in India has been busted by the Directorate of Enforcement (ED), the country’s economic intelligence agency. The results saw law enforcement recover valuables, particularly gold.
It stems from an ongoing investigation into politician, K C Veerendra, who was found to be helping run the illegal betting ring. Using sites like King567 and Raja567, Veerendra and others behind the operation would reportedly funnel money spent on the sites through various laundering methods, while also cheating players out of their cash.
Veerendra was arrested in August and remains in custody. The money that was laundered can still be seen, as police have extensively documented what they’ve managed to recover so far.
Reported numbers of the betting ring’s earnings total over ₹2,000 crore ($169,692,555), making it one of India’s largest financial scams. The group would spend some funds on advertising, manipulating search engine results through Search Engine Optimisation tactics, and sending text messages in bulk.
India sees one of its largest scams as Veerendra gambling ring raided
ED conducted searches in the K C Veerendra illegal online betting case, seizing 40 kg gold worth Rs. 50.33 crore from Challekere lockers. Total assets seized so far exceed Rs. 150 crore. Investigation revealed Veerendra, an MLA, and associates ran betting sites like King567,… pic.twitter.com/Yj3i9vD2JK
— IANS (@ians_india) October 9, 2025
In the most recent part of the investigation, ED seized various assets that were found on properties involved. This has now surpassed ₹150 crore ($16,917,225). ED recovered 21KG of gold bars and 40KG of 24-carat gold bullion worth ₹50.33 crore ($5,637,995). This was found amongst other valuables.
In August, when the ED raided five casinos linked with the betting ring, they seized multiple memberships to international casinos. The agency also seized 12 crore ($1,353,134.40) in cash, with 1 crore ($112,761.20) in foreign currencies.
During this raid, various cars were seized as well, all of which had the same VIP registration number, 0003. They also froze 17 bank accounts linked with the betting ring.
Police found so much gold that the images shared with the public included spelling out “ED” out of the gold bars recovered. ED will now proceed to the next step of the investigation, with efforts being put in to uncover the full network.
In September, Indian law enforcement also raided another gambling ring in light of tightening control over the industry.
Featured image: KC Veerenda via Instagram, ED via Twitter
