JOIN OUR WHATSAPP CHANNEL
Explained: Here's why Mahesh Babu is under ED scanner in alleged money laundering case
Here’s everything you need to know about Mahesh Babu’s alleged involvement in the money laundering case.
Actor Mahesh Babu has been summoned by the Enforcement Directorate (ED) in connection with a money laundering investigation related to a suspected real estate scam. According to a PTI report, the SSMB29 actor has been asked to appear before the agency on April 28 to record his statement under the Prevention of Money Laundering Act (PMLA). The case reportedly involves Sai Surya Developers, a Vengal Rao Nagar-based firm, along with the Surana Group and other entities.
What is the ED case?
As per PTI, this case revolves around an alleged real estate scam involving the renowned Sai Surya Developers and the Surana Group. ED launched an investigation under the Prevention of Money Laundering Act after complaints of cheating and delivery failure in a project named Green Meadows. Investors claimed they paid money for plots that were never registered or delivered.
The developers allegedly sold the same plots to multiple buyers and took payments without valid agreements. They also gave false promises about registrations. This caused major financial losses to investors.
The ED revealed during the investigation that the accused generated illegal money through fraudulent means and laundered it across related businesses. During the raids, the agency found unaccounted cash transactions of nearly Rs 100 crore. It also seized Rs 74.5 lakh in cash from the Surana Group's properties. Incriminating documents and investor deposit records were also recovered.
The case is now under deeper scrutiny as more people come under the scanner, including actor Mahesh Babu. He was reportedly the brand ambassador of the project.
How is Mahesh Babu involved in the case?
Actor Mahesh Babu has been summoned but is not yet listed as an accused in the case. According to PTI, officials believe the SSMB29 actor might have promoted the real estate project without knowing about the fraud. The ED is looking into Rs 5.9 crore he reportedly received as an endorsement fee.
This amount includes both cheque and cash payments. The agency wants to verify the source and purpose of these transactions. So far, Mahesh Babu has not released any public statement on the matter.
Latest Articles
