In a recent development, the Enforcement Directorate (ED) has summoned controversial actor Prakash Raj for questioning in connection with a money laundering case related to an alleged Rs 100-crore ponzi and fraud case involving Tiruchirapalli-based jewelry group, Pranav Jewellers.
The ED had conducted a raid on 20 November against Pranav Jewellers, seizing cash and gold jewelry during the operation, reported Indian Express.
The investigation is centered around Prakash Raj, who served as the brand ambassador for Pranav Jewellers.
He is expected to depose before an investigation officer in Chennai in the first week of December. During this, the ED aims to scrutinise various financial transactions, including purported payments made to the actor.
The case, originally registered by the Economic Offences Wing in Trichy, alleges that Pranav Jewellers collected Rs 100 crore from the public through a gold investment scheme, promising substantial returns.
However, the firm failed to fulfill its commitment, leaving investors in the lurch.
The ED's probe has revealed a complex web of financial irregularities, including the diversion of public funds to shell entities and entry providers.
Searches conducted during the raid uncovered unexplained cash amounting to Rs 23.70 lakh and gold jewelry weighing 11.60 kg.
The actor's involvement in the case raises questions about his association with the jewelry group and the nature of transactions between them.
Prakash Raj is expected to shed light on the alleged payments and other financial activities during the scheduled deposition.
Nayan Dwivedi is Staff Writer at Swarajya.
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