ED summons Brand Ambassador Actor Prakash Raj in Rs.100 crore Ponzi Scam linked to Pranav Jewellers:

ED summons Brand Ambassador Actor Prakash Raj in Rs.100 crore Ponzi Scam linked to Pranav Jewellers The Enforcement Directorate (ED) has summoned renowned actor Prakash Raj for interrogation in connection with a money laundering case involving an alleged Rs. 100 crore Ponzi fraud scheme conducted by a Tiruchirapalli-based jewellery firm. According to official sources, the actor will testify before the federal agency in Chennai next week. The case centred around Pranav Jewellers, a Tiruchirapalli-based partnership company that was raided by the ED. Prakash Raj, Pranav Jewellers' brand ambassador, is presently being investigated by the ED. ED officers discovered a pile of evidence, including different damning papers, during their diligent searches. During the operation, a large amount of unexplained cash totaling Rs. 23.70 lakh and bullion/gold jewellery weighing 11.60 kg were seized. Prakash Raj, well known for his appearances in Hindi and South Indian films, has been a vocal opponent of the Bharatiya Janata Party (BJP) and Prime Minister Narendra Modi. However, Prakash Raj's involvement with Pranav Jewellers and its suspected financial irregularities has piqued the ED's attention in this matter. An FIR lodged by the Tamil Nadu Police Economic Offences Wing prompted the ED probe. According to the police complaint, Pranav Jewellers and their associates defrauded the public by fraudulently promising rich returns through a gold investment scam. Based on ED statement, Pranav Jewellers failed to keep its pledge to investors. Instead, the business and other associated persons syphoned public cash to shell organisations in the premise of acquiring bullion or gold jewellery. The inquiry also discovered that entry providers, who were identified as supplier parties in Pranav Jewellers' records, admitted to arranging fraudulent transactions and provided cash to accused individuals in lieu of bank payments.