ED Summons Actor Prakash Raj In Money Laundering Case - Deets Inside

Pic Courtesy: ANI

New Delhi: According to agency officials, the Enforcement Directorate (ED) has summoned actor Prakash Raj. The actor has recorded his statement in connection with an alleged ₹100-crore Ponzi scheme case involving Tiruchi-based Pranav Jewellers. 

However, Raj is yet to issue a statement in this regard. The actor was reportedly the brand ambassador of the jewellery firm. The agency may seek information from him about the money paid to him by the firm. 

Under the Prevention of Money Laundering Act, the agency had conducted searches on November 20. The purpose was to gather information about the ponzi scheme run by certain accused persons in the name of Pranav Jewellers, which is a partnership firm. ED had seized incriminating documents, ₹23.70 lakh of unexplained cash, and bullion/gold jewellery. 

First Information Report was registered by the Economic Offences Wing (Tiruchi) against the firm and others. It alleged that about ₹100 crore was collected from people under the guise of a gold investment scheme with the promise of high returns. However, the firm failed to return the amount to such investors.

According to the agency, Pranav Jewellers and other connected persons cheated the public by diverting the funds to shell entities or entry providers on the pretext of buying bullion or gold ornaments.

The ED said, “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/accommodation entries to Pranav Jewellers for amounts over ₹100 crore; and also confessed to have given cash to the accused persons in lieu of bank payments."