The Enforcement Directorate has summoned actor Prakash Raj for recording his statement in connection with an alleged ₹100-crore Ponzi scheme case involving Tiruchi-based Pranav Jewellers, according to agency officials.
Mr. Raj, who is yet to issue a statement in this regard, was reportedly the brand ambassador of the jewellery firm. The agency may seek information from him about the money paid to him by the firm.
On November 20, under the Prevention of Money Laundering Act, the agency had conducted searches to gather information about the ponzi scheme run by certain accused persons in the name of Pranav Jewellers, which is a partnership firm. Subsequently, the ED said it had seized incriminating documents, ₹23.70 lakh of unexplained cash, and bullion/gold jewellery weighing 11.60 kg during the operation.
High returns promised
The ED probe is based on a First Information Report registered by the Economic Offences Wing (Tiruchi) against the firm and others, alleging that about ₹100 crore was collected from people under the guise of a gold investment scheme with the promise of high returns. The firm failed to return the amount to such investors.
According to the agency, Pranav Jewellers and other connected persons cheated the public by diverting the funds to shell entities or entry providers on the pretext of buying bullion or 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/accommodation entries to Pranav Jewellers for amounts over ₹100 crore; and also confessed to have given cash to the accused persons in lieu of bank payments,” the ED said on Thursday.
