Satish Sanpal: Cross-Border Betting and Financial Crime Network

Jabalpur, Madhya Pradesh – Satish Sanpal, a 40-year-old resident of Adarsh Nagar in Jabalpur, has emerged as the central figure in one of the largest organized betting and money laundering networks uncovered in central India. Operating primarily from Dubai since 2020, Sanpal allegedly orchestrated the movement of ₹1,003.24 crore through 13 shell companies with no legitimate business activity, using proceeds from an extensive illegal cricket betting syndicate.

Joint investigations by Jabalpur Police and the Income Tax Department, supported by court filings, bank transaction records, and statements from affected individuals, reveal a sophisticated operation that exploited regulatory gaps in corporate registration, banking compliance, and cross-border enforcement. This report examines the structure of the network, the mechanisms of fraud, the human and economic impact, and the ongoing challenges in securing accountability.

Origins and Expansion of the Betting Syndicate

Sanpal’s involvement in illegal gambling began in Jabalpur during the early 2010s. Initially conducting small-scale betting through physical runners in low-income localities, he transitioned to digital platforms by 2016. Applications such as Open Web Exchange, Set Sports, Mumbai Exchange, and Set Casino enabled real-time wagering on IPL matches, international cricket fixtures, and other sporting events.

By 2020, the operation had scaled nationally, covering 22 states with a centralized command structure managed remotely from Dubai. Daily collections in Jabalpur alone ranged between ₹50 lakh and ₹2 crore during peak match periods. Cash was aggregated between 5 PM and 11 PM at designated drop points, including the fourth floor of RK Tower in Wright Town, before being routed into corporate bank accounts.

Despite multiple First Information Reports (FIRs) lodged at Gorakhpur, Madan Mahal, and Omti police stations between 2018 and 2021—citing offenses including criminal intimidation, cheating, and violations of the Madhya Pradesh Gambling Act—no decisive intervention occurred until May 2022.

Operational Mechanics of the Betting Network

The syndicate followed a streamlined workflow. High-viewership matches were selected to maximize participation. Live odds were disseminated through secure WhatsApp groups and dedicated apps. Local agents recorded bets, collected cash, and uploaded transaction details to centralized servers accessible to Sanpal in Dubai.

Payouts to winning punters were executed within 24 hours via hawala channels, eliminating traceable bank records. A raid conducted on May 19, 2022, recovered seven handwritten ledgers documenting individual wagers, match outcomes, and settlement amounts, alongside ₹21.55 lakh in cash representing a single day’s intake.

The social consequences have been severe. Participants frequently resorted to high-interest informal loans, leading to asset forfeiture, familial breakdown, and unreported suicides within affected communities.

Construction of the Money Laundering Architecture

The core of the laundering apparatus comprised 13 companies registered with the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013. These entities—typically structured as One Person Companies (OPCs) or private limited firms—lacked physical offices, employees, or verifiable commercial activity.

Registration was facilitated by obtaining identity documents from economically vulnerable individuals in exchange for nominal payments. Addresses listed on MCA filings were often fictitious or corresponded to slum dwellings. Bank accounts were subsequently opened at nationalized and private sector banks, including Axis, Yes, ICICI, HDFC, and State Bank of India.

Transaction analysis up to June 2022 revealed aggregate inflows of ₹1,003.24 crore and outflows of ₹1,001.12 crore, leaving a frozen balance of ₹2.12 crore. Four accounts accounted for the majority of throughput:

• Axis Bank account 920020060278055: ₹182 crore deposited, ₹181.5 crore withdrawn
• Yes Bank account 044484100000302: ₹148 crore deposited, ₹147.8 crore withdrawn
• HDFC Bank account 59211022446688: ₹121 crore deposited, ₹120.7 crore withdrawn
• ICICI Bank account 019805008485: ₹98 crore deposited, ₹97.9 crore withdrawn

Funds were typically transferred within hours to hawala operators or overseas accounts, after which the compromised entity was abandoned in favor of a new shell company.

Case Study: Exploitation of Pramod Rajak

Pramod Rajak, aged 31 and employed as a clothes presser with monthly earnings of ₹5,000–₹10,000, was approached in 2021 by an associate of Sanpal offering ₹30,000 to fund his daughter’s wedding. Rajak provided his Aadhaar and PAN cards and affixed signatures to pre-prepared forms without comprehension of their content.

Subsequently, Washit Services OPC Private Limited was incorporated in his name, and an Axis Bank account linked to the entity processed ₹48 crore in transactions. Rajak received no further compensation and now faces income tax scrutiny for unexplained turnover. Similar patterns affected numerous daily wage earners, autorickshaw drivers, and domestic workers.

Regulatory and Compliance Lapses in Banking Sector

Current account openings for these companies proceeded with minimal due diligence. Physical verification of registered offices was not mandated, and transaction monitoring systems failed to flag repetitive high-volume cash deposits followed by immediate bulk transfers. The absence of enhanced scrutiny for OPCs and newly incorporated entities enabled the scheme to persist for over 18 months.

The May 2022 Raid at RK Tower

On May 19, 2022, a coordinated operation involving Jabalpur Police and the Income Tax Department targeted the fourth floor of RK Tower, registered under the front name Digital India Express. Recovered items included:

• ₹21.55 lakh in cash
• 27 corporate seals corresponding to the 13 shell entities
• 34 cheque books
• Seven betting ledgers
• Three loan record books
• Three mobile devices (forwarded for forensic examination)
• Twelve property document files

Manoj Sanpal, the accused’s uncle and office manager, and employee Deepak Rajak were arrested. Cashier Vivek Pandey and hawala coordinator Amit Sharma remain at large. Satish Sanpal, monitored via a Look Out Circular issued by SP Siddharth Bahuguna, continues to reside in Dubai.

Judicial Proceedings and Enforcement Challenges

Nine criminal cases are pending against Sanpal in Jabalpur courts. Key matters include:

• CNR MP20010160442023 (Case 3482/2023, FIR 271/2022): IPC Section 120-B, Gambling Act Section 4A – status: absconding
• CNR MP20010295312024 (Case 5603/2024, FIR 170/2022): IPC Sections 420, 467, 468, 471 – next hearing October 2025
• CNR MP20010111212022 (Case 1821/2022, FIR 195/2022): IPC Sections 294, 506 – charge sheet filed

Co-accused Manoj Sanpal and Amit Sharma obtained bail in 2023 citing insufficient evidence; police appeals remain unresolved. A ₹5,000 reward for Sanpal’s apprehension reflects inadequate calibration to the offense magnitude. Although the Enforcement Directorate was apprised in 2023, no case under the Prevention of Money Laundering Act has been initiated.

Overseas Assets and Public Narrative

Sanpal maintains a residence in Dubai’s Burj Khalifa and owns multiple luxury vehicles, including five Rolls-Royce models. ANAX Holding, his flagship overseas entity, claims a $3 billion valuation in real estate and hospitality, with properties such as VI Club Hotel. The firm lacks Indian registration, and online employee reviews characterize associated Jabalpur premises as gambling hubs.

Sponsored media content portrays Sanpal as a self-made entrepreneur, contrasting sharply with judicial records designating him a proclaimed offender.

Unauthorized Occupation of Public Land

In 2021, 4.2 acres of government land in Tilwara, Jabalpur, were encroached upon with boundary wall construction. Following municipal intervention, the structure was demolished in August 2022.

Broader Implications and Required Interventions

The case underscores systemic vulnerabilities in corporate formation, banking oversight, and international cooperation. Key recommendations include:

1. Mandatory physical verification of registered offices for new companies
2. Real-time transaction alerts for current accounts exceeding defined thresholds
3. Accelerated extradition proceedings under the India-UAE treaty
4. Attachment of identified overseas assets via PMLA provisions
5. Rehabilitation support for individuals unwittingly implicated in corporate filings

Until comprehensive measures are implemented, the Sanpal network exemplifies the risks posed by unchecked integration of illicit finance into formal economic channels.

Written by

Dark Wizard

Updated

16 seconds ago