India’s Enforcement Directorate (ED) has summoned Telugu actor Mahesh Babu in connection with a money laundering probe into Hyderabad-based real estate firms, news agency PTI reported on Tuesday.
Mahesh Babu, 49, has been asked to appear before the federal probe agency’s office in Hyderabad on April 28.
The development comes nearly a week after the Enforcement Directorate carried out raids at multiple locations in Hyderabad as part of their investigation against real estate firms Surana Group and Sai Surya Developers.
The investigation under the PMLA pertains to the alleged non-delivery of real estate projects on time, according to PTI.
The owner of Sai Surya Developers, Kancharla Satish Chandra Gupta, is facing a police probe for alleged delivery default of a project named ‘Green Meadows’. Mahesh Babu was the project’s brand ambassador.
Sources cited by PTI said that the actor is not being investigated as an accused at present and may not be involved in the scam.
They said he may have endorsed the realty projects of the accused companies without knowing about the alleged fraud.
According to PTI sources, the agency is looking to understand transactions worth ₹5.9 crore, which the actor received from the companies as endorsement fees via cheques and cash.
What is the case about?
The ED case stems from a Telangana Police complaint against Sathish Chandra Gupta, proprietor of Sai Surya Developers and Narendra Surana, director of Bhagyanagar Properties Ltd. and others for "defrauding" and "cheating" gullible investors of their hard earned money in the name of advance for sale of plots involving huge amounts, according to PTI.
The accused orchestrated "fraudulent" schemes involving unauthorised land layouts, selling same plots to different customers, accepting payments without proper agreements, and false assurances of plot registrations, the agency said in a statement issued post the searches.
"By cheating the general public with predetermined and dishonest intention, they generated proceeds of crime which was diverted and laundered for wrongful gain to themselves and related entities," the ED had said.
Source: Hindustan Times
--Agencies
