Curated By: Dishya Sharma
Last Updated: November 23, 2023, 19:28 IST
Popular actor Prakash Raj has been summoned for questioning by Enforcement Directorate (ED) in connection with the Rs 100-crore Ponzi scheme scam. Trichy based Pranav Jewellers has been accused of running the scam. Prakash Raj’s name has now been dragged into the money laundering enquiry. The actor was associated to the brand for a long time as the brand ambassador. The actor is yet to comment on the summon.
It is claiemd that Pranav Jewellers collected Rs 100 crore from public under the garb of a gold investment scheme with the promise of high returns. However, not only did the investor get their returns but they also lost the money they had put into the scheme. Complaints were against the jewellers and the Economic Offences Wing in Tamil Nadu’s Trichy filed a case against Madhan, the owner. The ED conducted a raid on November 20 and various incriminating documents, unexplained cash of Rs 23.70 lakh, bullion/ gold jewellery weighing 11.60 KG.
In a statement to the press, as reported by Hindustan Times, ED said on Wednesday, “Investigation revealed that Pranav Jewellers and other connected persons cheated the public by diverting public funds to shell entities/entry providers under the garb of purchase of bullion/gold ornaments.”
“Searches also revealed that the supplier parties in the books of Pranav Jewellers were entry providers, who during the investigation confessed to have provided adjustment or accommodation entries to Pranav Jewellers for amounts over ₹100 crores; and also confessed to have given cash to the accused persons in lieu of bank payments,” they added.
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