Popular South Indian actor Mahesh Babu seems to be in difficulty these days since he has been summoned by the Enforcement Directorate (ED). Let us tell you that he is summoned in connection with a money laundering probe into the alleged cheating of two Hyderabad-based real estate investors. Mahesh Babu had allegedly endorsed dubious projects of Sai Surya Developers and Surana Group.
Mahesh Babu
According to ED sources, he received Rs 5.9 crore for endorsing projects of Sai Surya Developers, of which Rs 3.4 crore was paid to him by cheque and Rs 2.5 crore in cash. ED officials suspect that the cash portion is part of fraudulently accumulated cash. The ED had initiated its money-laundering probe based on an FIR filed by Telangana police against Bhagyanagar Properties Limited director Narendra Surana, Sai Surya Developers owner K Satish Chandra Gupta, and others.
Mahesh Babu
Let us tell you that these companies allegedly duped buyers of crores of rupees in advance by selling the same land multiple times through unauthorised layouts and wrong registrations. The actor’s endorsement of Sai Surya Projects allegedly influenced many people to invest, who were completely unaware of the huge fraud going on behind the venture. While the actor may not be a part of the scam, the ED is investigating the money he received from the developers.
Mahesh Babu
The Enforcement Directorate conducted raids at several places as part of a money laundering probe linked to alleged fraud with real estate investors. During this action, the action was carried out against the Surana Group and Sai Surya Developers and at Secunderabad, Jubilee Hills, and Bowenpally. In the raid, the ED claimed to have seized evidence related to documents and cash from the premises.