November 24, 2023 / 7:44 IST
The Enforcement Directorate, the law enforcement agency responsible for enforcing economic laws and fighting financial crime in India, has issued a summons to Tamil actor Prakash Raj. The summons is in relation to a money laundering case that has come to light recently. The case is connected to a Ponzi and fraud case against Trichy-based jewellers who have allegedly swindled the public out of over 100 crore rupees through a fraudulent gold investment scheme.
In a surprise operation, the authorities conducted a raid on the company’s premises on November 20th. During the raid, they discovered a substantial amount of Rs. 23.70 lakhs in cash, in addition to some valuable gold jewellery. The raid was carried out as part of an ongoing investigation into the company’s financial activities.
The officials stated that Mr. Raj was a brand ambassador for the jewellery company and is being monitored in relation to the matter.
In a statement, ED said “Investigation revealed that Pranav Jewellers and other connected persons cheated the public by diverting public funds to shell entities provider under the grab of purchase of gold ornaments.
“The searchers revealed the supplier party is in the book of Pranav Jewellers were entry providers, who lately confessed to having accommodation entries to Pranav Jewellers for over Rs. 100 Crore, and also confessed to have given cash to the accused persons in lieu of bank payment”, the statement by ED.
The financial crime investigation agency is currently conducting an extensive probe into allegations of money laundering against the Jewellery company. The investigation is being carried out based on a First Information Report (FIR) filed by the Economic Offences Wing (EOW). The agency is meticulously examining the company’s financial transactions and records to determine if any illegal activities have taken place.
