The Enforcement Directorate (ED) has issued a notice to Telugu superstar Mahesh Babu in connection with an ongoing money laundering investigation involving real estate firms.
According to reports, the probe centres on alleged fraudulent practices and large-scale financial irregularities by the two real estate companies - Sai Surya Developers and the Surana Group.
According to reports, Mahesh Babu has been issued a notice for allegedly endorsing projects linked to the developers and reportedly received a fee of Rs 5.9 crore. Of this amount, Rs 3.4 crore was paid via cheque, while the remaining Rs 2.5 crore was allegedly received in cash — which has now come under the scanner.
Reports on TOI state that the ED suspects the cash payments may have been a part of the group's laundered funds.
FIRs filed by the Telangana Police, accuse the entities of defrauding investors by selling plots in unauthorised layouts, making multiple sales of the same plots, and offering fake registration guarantees. The actor's endorcement of the projects is believed to have played a significant role in building public trust and drawing in buyers who were reportedly unaware of the alleged fraud.
It must be noted that there is currently no indication that the actor was involved in the operational aspects of the scam, and the ED is investigating just the payments he received as officials claimed to have recovered evidence indicating questionable transactions amounting to Rs 100 crore.
Mahesh Babu is currently busy working on his next film with SS Rajamouli. The film that went into production early this month, also star Priyanka Chopra in the leading lady's role.
According to reports, the probe centres on alleged fraudulent practices and large-scale financial irregularities by the two real estate companies - Sai Surya Developers and the Surana Group.
According to reports, Mahesh Babu has been issued a notice for allegedly endorsing projects linked to the developers and reportedly received a fee of Rs 5.9 crore. Of this amount, Rs 3.4 crore was paid via cheque, while the remaining Rs 2.5 crore was allegedly received in cash — which has now come under the scanner.
Reports on TOI state that the ED suspects the cash payments may have been a part of the group's laundered funds.
FIRs filed by the Telangana Police, accuse the entities of defrauding investors by selling plots in unauthorised layouts, making multiple sales of the same plots, and offering fake registration guarantees. The actor's endorcement of the projects is believed to have played a significant role in building public trust and drawing in buyers who were reportedly unaware of the alleged fraud.
It must be noted that there is currently no indication that the actor was involved in the operational aspects of the scam, and the ED is investigating just the payments he received as officials claimed to have recovered evidence indicating questionable transactions amounting to Rs 100 crore.
Mahesh Babu is currently busy working on his next film with SS Rajamouli. The film that went into production early this month, also star Priyanka Chopra in the leading lady's role.
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