KARACHI – Fans of betting, bet safely with the “I.I. Chundrigar bookie” – he is a man trusted by the big guns, has direct contacts in Mumbai and Dubai, and till now, has transferred more than nine billion rupees abroad. The I.I. Chundrigar bookie, as he is known among clients and supporters, gets his name from the location of his office – situated on the sixth floor of a complex near the Shaheen Complex end of the I.I. Chundrigar Road. His set-up was inaugurated as an office of a foreign exchange dealer, but in fact, serves as the bookmakers’ bank.
“The I.I. Chundrigar bookie deals with more than 93 accounts – some of which have been opened by the city’s bookmaking giants,” sources told Pakistan Today. “Forex dealing is just a front, the I.I. Chundrigar bookie has direct contacts with bookmakers in Mumbai and Dubai,” sources said. For bookmakers, the I.I. Chundrigar bookie is a man of much significance – especially at a time when the ICC Cricket World Cup is underway in the Indian subcontinent, and money changes hands by the minute. The I.I. Chundrigar bookie helps Karachi bookmakers to maintain their accounts and shift money to bigger books across the border,” sources told Pakistan Today.
No less than 23 billion rupees have so far been transferred through the illegal betting racket that has picked up in the country with the start of the 2011 cricket World Cup in India and Bangladesh. Bookmakers claim that Karachi’s contribution to this pool has been nine billion rupees. “About 500 million rupees are transferred to Mumbai or Dubai on a daily basis,” sources explained. “Money is transferred to India when local books overshoot their limit, while entire accounts have to be moved in situations where the betting person wants to play in the big league. This is not the first time such a thing is happening; you have to understand, this is like Eid for us!” he said.
Perhaps the World Cup is bigger than Eid for these bookmakers: a survey carried out by Pakistan Today revealed that 12 handlers or bookies are operating at 19 gambling points in Karachi. These men have links with 33 “forex dealers” across the country, who enjoy the direct or indirect patronage of politicians and police high-ups.
In the case of the I.I. Chundrigar bookie, a Karachi-based politician from the ruling party inaugurated his office about six months ago. “Before the I.I. Chundrigar bookie, four others had established a foreign exchange agency by the name of Madina Money Exchange some two years ago, but they had to shut shop after being declared as defaulters,” sources claimed.
While the subcontinent turns a blind eye to its illegal betting rackets, the billion rupee trade eventually finds its way to Dubai – where the headquarters of the International Cricket Council is situated – as gamblers there enjoy the provision of trading in all currencies. “Once the books in India overrun their limits, they transfer the money to Dubai,” sources said. “Futures are made and destroyed there, because one right decision can make you billions, and one stroke of misfortune can take everything away from you.”
