The Enforcement Directorate (ED) has issued summons to actor Prakash Raj in connection with a money laundering probe against Trichy based partnership firm, Pranav Jewellers, that allegedly collected ₹100 crore from public in the guise of gold investment scheme with the promise of high returns, people familiar with the development said on Thursday.
Raj, officials said, was the brand ambassador for Pranav Jewellers, and is “under the scanner” in the matter.
The firm was raided by ED on Monday for running the alleged Ponzi scheme.
In a statement issued on Wednesday, 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 financial crimes probe agency’s money laundering probe against Pranav Jewellers is based on a first information report (FIR) filed by the Economic Offences Wing (EOW), Trichy, which alleged that ₹100 crore was collected from public by the company, under the guise of a gold investment scheme with the promise of high returns. Pranav Jewellers failed to return the amount to such investors, it alleged.
{{/usCountry}}The financial crimes probe agency’s money laundering probe against Pranav Jewellers is based on a first information report (FIR) filed by the Economic Offences Wing (EOW), Trichy, which alleged that ₹100 crore was collected from public by the company, under the guise of a gold investment scheme with the promise of high returns. Pranav Jewellers failed to return the amount to such investors, it alleged.
{{/usCountry}}During raids on Monday, the agency found various incriminating documents, unexplained cash of ₹23.70 lakh, bullion/gold jewellery weighing 11.60 Kg have been seized.