Nagpur, Jul 22 (PTI) A businessman from Nagpur lost a staggering Rs 58 crore in online gambling and the investigation led to the recovery of Rs 17 crore in cash besides 14 kg of gold from the house of the person who allegedly duped him, police said here on Saturday.
Anant alias Sontu Navratan Jain, the alleged `bookie’ who had created the online gaming platform, is suspected to have fled to Dubai a day before the raid at his residence in Gondia city, 160 km from Nagpur.

“Jain apparently convinced the complainant — a businessman — to explore online gambling as a lucrative avenue of earning money. Initially hesitant, the businessman succumbed to Jain’s persuasion and transferred Rs 8 lakh through a hawala agent,” said Nagpur police commissioner Amitesh Kumar.
Jain provided the businessman a link on WhatsApp to open an online gambling account. The businessman found Rs 8 lakh deposited in the account and began gambling, Kumar said.
“After initial success, the businessman’s fortunes took a drastic downturn as he lost a whopping Rs 58 crore while winning only around Rs 5 crore,” the police commissioner said.
The businessman then grew suspicious as he was mostly losing and demanded his money back, but Jain refused.
“The businessman lodged a complaint with the cyber police, leading to the registration of a case of fraud under the Indian Penal Code. Police raided Jain’s residence in Gondia today,” the commissioner said.
    They recovered Rs 17 crore in cash, 14 kg of gold in the form of gold biscuits and jewellery and 200 kg of silver at the house.
    Jain, however, gave the police the slip. It is suspected that he has escaped to Dubai, the official said, adding that the total value of the seized assets was yet to be ascertained.