ED Summons Actor Mahesh Babu In Alleged Money Laundering Case

(MENAFN- Live Mint) Telugu superstar Mahesh Babu has been served a notice by the Enforcement Directorate (ED) in connection with a money laundering probe involving two real estate companies.

The investigation focuses on alleged large-scale financial misconduct and fraudulent activities by Sai Surya Developers and the Surana Group.

Reports indicate that Mahesh Babu is under scrutiny for endorsing projects tied to these developers and allegedly receiving ₹5.9 crore as compensation.

Of that amount, ₹3.4 crore was paid by cheque, while ₹2.5 crore was reportedly received in cash, which is now being investigated.

Times of India reported citing ED that Mahesh Babu reportedly received a total of ₹5.9 crore for endorsing Sai Surya Developers' projects, with ₹3.4 crore paid via cheque and the remaining ₹2.5 crore in cash.

FIRs filed by the Telangana Police allege that the real estate firms defrauded investors by selling plots in unauthorised layouts, reselling the same plots to multiple buyers, and making false promises of guaranteed registration.

Actor Mahesh Babu's endorsement of the projects is believed to have significantly boosted public trust , attracting buyers who were reportedly unaware of the alleged scams. It's important to note that, as of now, there is no evidence suggesting the actor was involved in the operational side of the fraud.

TOI report stated that ED is currently focusing on the payments he received as investigation claim to have uncovered evidence of suspicious transaction totaling around ₹100 crore

(This is a developing story)

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