EaseMyTrip Official Statement After ED Raid
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Yesterday, EaseMyTrip Stock crashed by almost 8% after the ED raided their premises. ED conducted searches at over 50 locations EaseMyTrip’s co-founder Nishant Pitti’s office and residence in Delhi-NCR, in the Mahadev batting app case.
Today, EaseMyTrip released an Official Statement. EaseMyTrip spokesperson said, “EaseMyTrip has no direct or indirect association with the Mahadev Betting App or any other betting platform. We remain fully committed to cooperating with the authorities throughout the course of the investigation.”
The Mahadev Betting App scam is a significant money laundering and illegal online gambling case under investigation by India’s Enforcement Directorate (ED). The app, known as Mahadev Online Book, allegedly operated as an umbrella syndicate facilitating illegal betting activities and laundering illicit funds through a network of dummy companies and benami bank accounts.
