ED summons actor Prakash Raj in money laundering case related to Ponzi scam
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The Enforcement Directorate (ED) has summoned actor Prakash Raj for questioning in a money laundering case related to an alleged Rs 100 crore ponzi and fraud case against the Tiruchirappalli-based jewelery group. Official sources gave this information. The investigation pertains to a case against Pranav Jewellers, a partnership firm based in Tiruchirappalli. The agency had raided it on November 20 and claimed to have seized “unaccounted” cash and some gold jewelery worth Rs 23.70 lakh. National Award winning actor Raj (58) has been the brand ambassador of this company. He has been asked to appear before the federal agency in Chennai in the first week of December. According to sources, the ED wants to record his statement and understand some alleged payments and some other financial transactions made by the company to the Bengaluru-based actor-politician.
The actor, who has played various roles in Hindi and South Indian films, has been a vocal critic of the BJP. He also contested the Lok Sabha elections from Bengaluru Central seat in 2019 as an independent candidate, although he did not win. The ED case stems from an FIR by the Tamil Nadu Police Economic Offenses Wing. According to the police complaint, Pranab Jewelers and others collected Rs 100 crore from the public under the guise of a gold investment scheme with the promise of high ‘returns’, the federal agency said in a statement on Wednesday.
ED claims that Pranav Jewelers failed to return the amount to such investors and the firm (Pranav Jewellers) and other associated persons defrauded the public by transferring public money to shell companies in the guise of purchasing bullion/gold jewellery. The investigating agency said, during the search, various incriminating documents, unaccounted cash worth Rs 23.70 lakh, gold and silver jewelery weighing 11.60 kg etc. were seized.
ED raids Tiruchirappalli based jewelery company in ponzi case
Here, the Enforcement Directorate (ED) has seized “unaccounted” cash and gold jewelery worth Rs 23.70 lakh after searches against a jewelery group based in Tiruchirappalli. The group had allegedly defrauded investors by collecting Rs 100 crore from them in the name of investing in gold. The investigating agency on Monday raided Pranav Jewellers, a partnership firm based in Tiruchirappalli, as part of its money laundering probe against alleged Ponzi scheme operators. The ED case stems from an FIR by the Tamil Nadu Police Economic Offenses Wing. According to the police complaint, Pranab Jewelers and others collected Rs 100 crore from the public under the guise of a gold investment scheme with the promise of high ‘returns’, the federal agency said in a statement on Wednesday.
It said, Pranav Jewelers failed to return the amount to such investors and the firm (Pranav Jewellers) and other associated persons defrauded the public by transferring public money to shell companies in the guise of purchasing bullion/gold jewellery. The investigating agency said, during the search, various incriminating documents, unaccounted cash worth Rs 23.70 lakh, gold and silver jewelery weighing 11.60 kg etc. were seized.
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