Mahesh Babu has been summoned by ED on April 28 in the money laundering probe
South Superstar Mahesh Babu Summoned By ED: The Enforcement Directorate (ED) on Monday summoned Mahesh Babu on April 28 in connection with its probe into alleged money laundering linked to the fraud involving two Hyderabad-based real estate investors. Mahesh Babu had allegedly endorsed dubious projects of Sai Surya Developers and Surana Group. According to ED sources, he received Rs 5.9 crore for endorsing projects of Sai Surya Developers, out of which Rs 3.4 crore was paid to him by cheque and Rs 2.5 crore in cash. ED officials suspect that the cash portion is part of the cash accumulated through fraud.
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Mahesh Babu became an actor at the age of only 4 years. today, he is counted among the highest-paid actors. Crores of rupees were collected from buyers in advance through wrong registration. These companies allegedly collected crores of rupees in advance from buyers by selling the same land multiple times through unauthorized layouts and wrong registration.
The actor’s endorsement has impressed many:
The actor’s endorsement of Sai Surya Projects allegedly influenced many people to invest, who were completely unaware of the huge fraud going on behind the venture. While the actor may not be a part of the scam, the ED is investigating the money he received from the developers.
Raids against Surana Group and Sai Surya Developers:
On April 16, the Enforcement Directorate raided several places as part of a money laundering investigation into alleged fraud with real estate investors. During this action, raids were conducted against Surana Group and Sai Surya Developers. Raids were conducted at premises located in Secunderabad, Jubilee Hills and Bowenpally. During the raid, the ED claimed to have seized evidence related to documents and cash from the premises of Surana Group chief Narendra Surana and Sai Surya Developers.
Suspicious transactions worth Rs 100 crore were involved:
The ED said that these documents point to large-scale financial irregularities involving suspicious transactions worth Rs 100 crore. ED sources have confirmed that the fraudulently generated income was diverted to related parties, including celebrities involved in the promotional campaign. The agency is preparing to confiscate the properties acquired from this fraudulently generated money.
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