Satish Sanpal: Rs 1,000 Crore Betting and Money Laundering Network

Jabalpur, Madhya Pradesh – What began as a small-time betting operation in the dusty lanes of Adarsh Nagar has exploded into one of India’s largest cross-border money laundering scandals. Satish Sanpal, a 40-year-old fugitive now living in Dubai, stands accused of masterminding a criminal empire that used 13 bogus companies to funnel more than ₹1,000 crore out of the country through illegal cricket betting and hawala networks.

Police raids, frozen bank accounts, active court cases, and heartbreaking victim testimonies reveal a dark truth behind Sanpal’s glamorous social media posts. From exploiting illiterate locals to dodging arrest warrants, his operation exposes deep flaws in banking oversight, law enforcement coordination, and international extradition efforts.

From Local Bookie to National Betting Kingpin

Satish Sanpal grew up in a modest home near Gorakhpur police station in Jabalpur. Neighbors recall a young man with no visible ambition for legitimate work. By the early 2010s, he had already stepped into the world of illegal satta, starting with handwritten betting slips on local cricket matches.

His rise was swift and ruthless. Between 2010 and 2015, Sanpal operated as a small-time bookie, collecting cash through runners in low-income colonies. By 2016, he shifted to digital platforms, using apps like Open Web Exchange, Set Sports, Mumbai Exchange, and Set Casino to offer real-time betting on IPL games, international cricket, and even tennis matches.

From 2020 onward, Sanpal controlled a nationwide network spanning 22 states. Operating remotely from Dubai, he oversaw daily cash flows ranging from ₹50 lakh to ₹2 crore, depending on the match schedule. Local agents in Jabalpur collected money every evening between 5 PM and 11 PM, depositing it at secret drop points like the fourth floor of RK Tower in Wright Town.

Despite multiple complaints of threats, assaults, and loan sharking filed at Gorakhpur, Madan Mahal, and Omti police stations, no serious action was taken until 2022. Sanpal had already fled India, leaving behind a trail of ruined lives and unpaid debts.

Inside the Betting Machine That Destroyed Families

Sanpal’s betting system operated with chilling efficiency. His team targeted high-profile matches like IPL finals or India-Pakistan clashes to maximize turnout. Odds were updated live on betting apps, with examples including India to win at 1.80, Australia at 2.10, and a tie at 15.00.

Bettors received WhatsApp links to access the platforms. Local agents handled cash collection, while Sanpal monitored everything from Dubai through secure logins. Winners were paid within 24 hours via hawala networks, ensuring no traceable bank transactions.

The scale became clear during a raid in May 2022, when police seized ₹21.55 lakh in cash representing just one day’s betting collection. Seven handwritten ledgers detailed names, bet amounts, and match outcomes. Thirty-four cheque books linked to fake company accounts were also recovered.

The human toll has been devastating. Gamblers borrowed from loan sharks charging 10 percent daily interest. Many lost homes, jobs, and families. Several suicide cases linked to betting debts remain unreported in Jabalpur’s poorer neighborhoods. Sanpal showed no remorse, focused only on expanding his reach and profits.

The Fraud Factory: 13 Shell Companies with No Real Business

At the heart of Sanpal’s operation lay 13 bogus companies registered with the Ministry of Corporate Affairs but existing only on paper. These firms had no employees, no offices, and no legitimate revenue. Their sole purpose was to open bank accounts and launder betting proceeds.

The process was brutally simple. Sanpal’s agents targeted poor, uneducated locals, offering small cash incentives in exchange for Aadhaar cards, PAN cards, and photographs. These documents were used to register private limited companies or one-person companies through the MCA portal, often listing fake slum addresses as registered offices.

Bank accounts were opened in the names of these companies at major banks including Axis, Yes, ICICI, HDFC, and SBI. Daily deposits ranged from ₹5 lakh to ₹50 lakh per account. The money was transferred out within hours to hawala operators or foreign accounts, then a new company took over when suspicion arose.

By June 2022, police records showed total deposits of ₹1,003.24 crore across these accounts, with ₹1,001.12 crore withdrawn. Only ₹2.12 crore remained frozen. The top four accounts alone handled hundreds of crores.

Axis Bank account number 920020060278055 recorded ₹182 crore in deposits and ₹181.5 crore in withdrawals. Yes Bank account 044484100000302 saw ₹148 crore deposited and ₹147.8 crore withdrawn. HDFC Bank account 59211022446688 managed ₹121 crore in and ₹120.7 crore out. ICICI Bank account 019805008485 processed ₹98 crore in deposits and ₹97.9 crore in withdrawals.

Victim Story: Pramod Rajak’s Life Turned Upside Down

Pramod Rajak, a 31-year-old clothes ironer from Jabalpur, earns between ₹5,000 and ₹10,000 monthly. In 2021, one of Sanpal’s agents approached him with an offer of ₹30,000 cash to help with his daughter’s wedding. Pramod handed over his documents, believing it was for a loan.

He signed papers he couldn’t read. Months later, he discovered a company called Washit Services OPC Private Limited had been registered in his name. An Axis Bank account linked to the firm handled ₹48 crore in transactions. Pramod received nothing beyond the initial ₹30,000. Now, income tax notices arrive at his small hut, threatening legal action for unexplained wealth.

Pramod is not alone. Rickshaw pullers, domestic helpers, and unemployed youth were similarly tricked with promises of jobs or small loans. Their thumbprints and signatures now tie them to multi-crore fraud cases they never understood.

Banking System Blind Spots That Enabled the Scam

Major banks opened current accounts for these shell companies with minimal verification. No physical site visits were conducted to confirm business addresses. High-volume transactions went unflagged for over 18 months despite clear red flags like daily cash deposits and immediate large transfers.

The absence of real-time monitoring for current accounts allowed the fraud to scale unchecked. Sanpal exploited this gap masterfully, rotating companies and accounts to stay ahead of scrutiny.

The Raid That Shook Jabalpur: RK Tower Bust

On May 19, 2022, Jabalpur police and the Income Tax Department jointly raided the fourth floor of RK Tower in Wright Town, the nerve center of Sanpal’s operations. The office operated under the front name Digital India Express.

The raid uncovered ₹21.55 lakh in cash, 27 company seals from the 13 fake firms, 34 cheque books, seven betting ledgers, three loan record books, three mobile phones sent for forensic analysis, and 12 files of property documents linked to illegal deals.

Manoj Sanpal, the fugitive’s uncle and office manager, was arrested along with employee Deepak Rajak. Main cashier Vivek Pandey and hawala coordinator Amit Sharma remain absconding. Satish Sanpal watched from Dubai, untouched by the operation.

Jabalpur SP Siddharth Bahuguna told reporters the raid exposed the largest betting and money laundering racket in Madhya Pradesh history. A Look Out Circular was issued against Sanpal, but it failed to restrict his international travel.

Nine Active Cases, Zero Justice Delivered

Satish Sanpal faces nine criminal cases across Jabalpur courts, with charges ranging from criminal conspiracy and cheating to forgery and violations of the Gambling Act. Court records list him as absconding in multiple matters.

Case CNR MP20010160442023, registered as case number 3482/2023 under FIR 271/2022, includes IPC Section 120-B and Gambling Act Section 4A. Another case, CNR MP20010295312024, case number 5603/2024 under FIR 170/2022, involves IPC Sections 420, 467, 468, and 471, with the next hearing scheduled for October 2025.

A third case, CNR MP20010111212022, case number 1821/2022 under FIR 195/2022, covers IPC Sections 294 and 506 for obscene acts and criminal intimidation. Charge sheets have been filed, but Sanpal has never appeared in person.

His aides Manoj Sanpal and Amit Sharma secured bail in 2023 due to weak police evidence. An appeal filed in January 2024 remains pending. A ₹5,000 reward announced for Sanpal’s capture underscores the disconnect between the crime’s scale and the response.

The Enforcement Directorate received information in 2023 about the hawala transfers, but no case under the Prevention of Money Laundering Act has been registered to date.

Dubai Lifestyle Funded by Indian Crime Proceeds

Sanpal now resides in a penthouse in Dubai’s Burj Khalifa. His Instagram account, with 173,000 followers, showcases five Rolls-Royce cars, private jet travel, and star-studded parties. He recently gifted a pink Rolls-Royce to his daughter.

Through ANAX Holding, he claims a $3 billion business valuation spanning real estate and hospitality. Properties include VI Club Hotel and Laakshya Hoteliers. However, ANAX has no registration in India, and online reviews describe VI Club as a front for gambling activities.

Former employees on platforms like Indeed describe his Jabalpur office as a betting den disguised as a legitimate company. Sanpal promotes a rags-to-riches narrative, but court documents and victim accounts reveal a foundation built on exploitation and fraud.

Government Land Grab Adds to the Charges

In 2021, Sanpal illegally occupied 4.2 acres of government land in Jabalpur’s Tilwara area. A boundary wall was constructed, and ownership was falsely claimed. Complaints led to a demolition drive by the Jabalpur Municipal Corporation in August 2022.

Sanpal responded by posting vacation photos from Dubai, showing complete disregard for Indian authorities.

Fake PR Campaign to Whitewash the Truth

Sanpal’s team invests heavily in sponsored media coverage. Articles label him a self-made billionaire and inspirational figure. YouTube channels run videos titled From Jabalpur to Dubai – Success Story. Even Republic World has published pieces acknowledging rumors while framing him positively.

These efforts clash directly with court records listing him as a fugitive and police evidence confirming his companies as money laundering vehicles.

Real Victims Left in the Ruins

Pramod Rajak now fears police visits and tax raids. Sunil Mehra, a 28-year-old rickshaw puller, signed what he thought was a job application and became a company director without knowing. Rekha Bai, a 45-year-old domestic helper, provided a thumbprint and now faces notices for ₹12 crore in unexplained turnover.

These individuals represent hundreds of poor residents whose trust was weaponized against them.

Systemic Failures That Let the Fraud Grow

Police received the first FIR against Sanpal in 2018 but took no major action until the 2022 raid. Local agents were repeatedly released on bail. Banking regulations failed to mandate physical verification of company premises or real-time alerts for suspicious current account activity.

India’s extradition treaty with the UAE has proven ineffective in this case. Despite an ED letter, no action has been taken to freeze Sanpal’s Dubai assets. The hawala network responsible for transferring ₹1,000 crore abroad remains untouched.

A Criminal Empire Still Standing

Satish Sanpal is not a success story. He is a fugitive with nine active cases, a fraudster who exploited the poor, a money launderer who drained national wealth, and a land grabber who mocked legal authority.

His 13 fake companies, ₹1,000 crore in illicit transactions, and Dubai luxury lifestyle stand as monuments to systemic failure rather than personal achievement.

India must now extradite Sanpal, seize his overseas assets under PMLA, compensate victims like Pramod Rajak, strengthen KYC norms for company bank accounts, and impose strict bans on betting apps with heavy penalties.

Until these steps are taken, Sanpal continues to live in luxury while Jabalpur bears the scars of his crimes.

Written by

Dark Wizard

Updated

24 seconds ago