BENGALURU, Jan 29, 2026 — The Directorate of Enforcement (ED), Bengaluru Zonal Office, has issued a Provisional Attachment Order (PAO) under the Prevention of Money Laundering Act (PMLA), 2002, seizing assets worth approximately ₹177.3 Crore linked to an illegal online betting and gambling syndicate spearheaded by KC Veerendra and his associates.
The investigation, which stemmed from multiple state police FIRs involving cheating and extortion, revealed a sophisticated nationwide network operating through platforms like King567 and other rigged casino websites. According to the ED, the syndicate duped the public by showcasing fake winnings to build trust before blocking withdrawal requests, laundering the deposits through hundreds of mule accounts and complex payment gateways.
With total identified “Proceeds of Crime” exceeding ₹2,300 Crore and total attached assets now reaching over ₹320 Crore, the agency continues its crackdown following extensive raids across 60 locations that yielded significant seizures of gold, cash, and luxury vehicles.
KC Veerendra remains in custody under Section 19 of the PMLA as the ED works to trace the remaining beneficiaries of this multi-layered financial fraud.
