Actor Prakash Raj has been summoned by the Enforcement Directorate (ED) for questioning regarding an alleged Ponzi scheme case...
Digital Desk: Actor Prakash Raj has been summoned by the Enforcement Directorate (ED) for questioning regarding an alleged Ponzi scheme case amounting to Rs 100 crore. The summons comes in the wake of the ED's recent searches at properties affiliated with Trichy-based partnership firm Pranav Jewellers on November 20, conducted under the Prevention of Money Laundering Act (PMLA).
Sources within the ED have revealed that Prakash Raj's summoning is part of a wider investigation into an alleged counterfeit gold investment scheme associated with Pranav Jewellers, a company for which the 58-year-old actor served as a brand ambassador. He has been instructed to appear before the federal agency in Chennai next week.
During the raids, officials seized incriminating documents and discovered unaccounted cash totaling Rs 23.70 lakh, along with 11.60 kg of gold jewellery.
The alleged Ponzi scheme run by Pranav Jewellers has drawn the ED's attention following a First Information Report (FIR) filed by the Economic Offences Wing (EOW) in Trichy. According to EOW reports, the jeweler amassed a staggering Rs 100 crore from the public through a gold investment scheme promising significant returns. However, the company allegedly failed to honor its commitments, leaving investors in distress.
This summons marks a significant development in the ongoing investigation into the financial irregularities linked to Pranav Jewellers, as the ED continues its efforts to unravel the complexities of the alleged Ponzi scheme.