Actor Prakash Raj has been summoned by the Enforcement Directorate (ED) in relation to a money laundering probe against Pranav Jewellers, a partnership firm based in Trichy, which is accused of having taken ₹100 crore from the public under the guise of a gold investment scheme that promised large returns, according to people with knowledge of the development on Thursday.
Raj, the Pranav Jewellers brand ambassador, is allegedly “under the scanner” in this case, according to officials. The ED raided the company on Monday because it was purportedly running a Ponzi scam.
On Wednesday, in a statement issued, ED said “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,” the statement added.
The first information report (FIR) filed by the Economic Offences Wing (EOW), Trichy, which claimed that ₹100 crore was taken from the public by the company under the guise of a gold investment scheme with the promise of high returns, is the basis for the financial crimes probe agency’s money laundering investigation against Pranav Jewellers. It claimed that Pranav Jewellers wasn’t able to these investors for their money.
Various incriminating documents, ₹23.70 lakh in unexplained cash, and 11.60 kg of gold jewellery were recovered by the agency during raids on Monday.
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