Edelweiss on Thursday issued a statement denying all the allegations regarding the group’s involvement in Mahadev App, a Mumbai builder, and business dealings with Dawood Ibrahim’s brother Mutaqeem.
In a statement released by the company on December 14 evening, the group stated “Edelweiss has no financial relationships with JP Infra Mumbai, JP Infra India Pvt. Ltd and has not financed projects like JP Deck in Goregaon neither anywhere else as alleged today. We state categorically that these claims are unfounded, baseless and seem motivated. Edelweiss has always conducted its business with the highest levels of integrity and in full compliance with all regulatory requirements.”
The statement by the company came after Maharashtra’s Deputy Chief Minister Devendra Fadnavis announced a probe to investigate the Mahadev betting app fraud. He mentioned that a Special Investigation Team (SIT) will look into the connections between the app’s owners and Dawood Ibrahim’s brother from the underworld, as well as a developer based in Mumbai. This investigation is expected to be completed within the next two months.
According to reports the probe is in response to BJP MLA Ashish Shelar’s concerns regarding Edelweiss’ involvement in the betting app fraud. Fadnavis mentioned that the Enforcement Directorate is already looking into the connections of the app developers across various parts of India.
Shelar claimed that Rashesh Shah, the chairman of the Edelweiss group is providing financial support to the Mahadev app and its owner Sharma’s company, which reportedly had ties to Dawood’s brother Mutaqeem. Deputy CM Fadnavis assured that the Special Investigation Team (SIT) will thoroughly investigate these alleged involvements.
Meanwhile, the Mumbai Crime Branch has summoned actor Sahil Khan, asking him to appear before them tomorrow at 10.30 am for questioning in the Mahadev betting app case.