The Enforcement Directorate (ED) has summoned renowned actor Prakash Raj for questioning in connection with a money laundering case related to an alleged Rs 100 crore ponzi and fraud scheme orchestrated by a Tiruchirapalli-based jewellery group. Official sources reveal that the actor is set to depose before the federal agency in Chennai next week.
The case revolves around Pranav Jewellers, a partnership firm based in Tiruchirapalli, against which the ED conducted raids. Prakash Raj, who has served as the brand ambassador for Pranav Jewellers, is now under the ED scrutiny.
During the meticulous searches, ED officials unearthed a trove of evidence, including various incriminating documents. Notably, a substantial sum of unexplained cash amounting to Rs 23.70 lakh and bullion/gold jewelry weighing 11.60 kg were seized during the operation.
Read More: ED raids Jewellers in Alleged Rs 100 Crore Ponzi Scheme Scam
Prakash Raj, renowned for his diverse roles in Hindi and South Indian cinema, has been an outspoken critic of the Bharatiya Janata Party (BJP) and Prime Minister Narendra Modi. However, the ED interest in Prakash Raj in this case is linked to his association with Pranav Jewellers and its alleged financial irregularities.
The ED investigation originates from an FIR filed by the Tamil Nadu Police Economic Offences Wing. According to the police complaint, Pranav Jewellers and accomplices collected Rs 100 crore from the public, falsely promising lucrative returns through a gold investment scheme.
The ED statement highlighted that Pranav Jewellers failed to honor its commitment to investors. Instead, the firm, along with other connected individuals, diverted public funds to shell entities under the guise of purchasing bullion or gold ornaments.
The investigation had also revealed that entry providers, listed as supplier parties in Pranav Jewellers’ books, confessed to facilitating bogus transactions and providing cash to accused persons in lieu of bank payments.
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