ED summons actor Mahesh Babu for questioning in money laundering case
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The Enforcement Directorate (ED) has summoned actor Mahesh Babu to appear on April 28 regarding investigations into alleged money laundering by two Hyderabad-based real estate companies accused of defrauding buyers, according to a report by The Times of India (TOI). The actor allegedly endorsed questionable projects by Sai Surya Developers and Surana Group. He received Rs 5.9 crore for endorsing Sai Surya Developers' projects, with Rs 3.4 crore paid via cheque and Rs 2.5 crore in cash.
On April 16, the probe agency carried out raids at multiple locations in Secunderabad as part of the investigation linked to alleged fraud with real estate investors. The raids were undertaken at premises located in Secunderabad, Jubilee Hills and Bowenpally.
The investigation under the Prevention of Money Laundering Act (PMLA), 2002 is related to the alleged non-delivery of real estate projects on time. The owner of Sai Surya Developers, Kancharla Satish Chandra Gupta, is currently facing an investigation for the alleged delivery default of a project called 'Green Meadows'. Mahesh Babu was the brand ambassador of the project.
The two groups are accused of collecting crores in advance from unsuspecting buyers by selling plots in unauthorized layouts and giving false assurances of registration. Although the actor may not have been directly involved in executing the alleged scam, the ED is examining the payments he received from the real estate groups.
News agency PTI had earlier reported that the probe was initiated after a 32-year-old software engineer filed a cheating complaint with local police against Gupta and his company. The complaint stated that Nakka Vishnu Vardhan and others collectively invested over Rs 3 crore in the Sai Surya Developers' Green Meadows project in April 2021 but failed to get possession of the property. The Surana Group is also being probed in this case.
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