Mahesh Babu in Hot Water: Summoned by ED in Money Laundering Probe
Hyderabad – In an unexpected turn of events, the highly regarded actor Mahesh Babu, known for his impactful roles in Telugu cinema, has been summoned by the Enforcement Directorate (ED) as part of a detailed money laundering investigation connected to real estate entities, namely Surana Group and Sai Surya Developers. The enforcement agency has requested the star’s presence for an inquiry this Sunday, raising eyebrows across the industry.
The Financial Puzzle: What’s at Stake?
Upon scrutiny, it has come to light that Mahesh Babu was compensated a staggering ₹5.5 crore for his appearances in advertisements for the Surana Group. Additionally, the Sai Surya Developers reportedly shelled out ₹5.9 crore, with a significant chunk—₹2.5 crore—transferred in cash, while ₹3.4 crore was processed via cheque. The ED is keen on verifying the legitimacy of these payments and unraveling the complexities surrounding his financial dealings.
A Web of Deceit: Findings from the Investigation
According to the ED’s recent findings, the agency has conducted thorough searches at numerous locations linked to the Surana Group, including Sai Surya Developers and Bhagyanagar Properties. These investigations uncovered illegal transactions exceeding ₹100 crore and culminated in the seizure of ₹74.5 lakh in cash.
The investigative agency has unearthed crucial evidence implicating several individuals, including Narendra Surana, Chairman of Surana Group, and Devendar Surana, Managing Director. These findings emerged from properties located in Hyderabad’s upscale neighborhoods, Madhapur, Jubilee Hills, and Bowenpally.
A Landscape of Fraud: The Allegations
The Enforcement Directorate has articulated serious allegations against the Surana Group, asserting that they engaged in massive fraud under the pretense of legitimate real estate operations. A statement from the agency revealed that the investigation was propelled by multiple First Information Reports (FIRs) filed by the Telangana Police against key figures in the Surana Group, primarily targeting their fraudulent practices that defrauded numerous investors out of their hard-earned money.
As per the ED’s statements, the culprits orchestrated elaborate schemes, which included:
- Selling the same plots to different buyers
- Accepting payments without proper agreements
- Providing false reassurances about plot registrations
Such machinations resulted in substantial financial losses for countless victims, ultimately leading to the generation of proceeds of crime that were subsequently laundered to benefit the perpetrators.
What’s Next?
As the investigation unfolds, the Enforcement Directorate continues to delve deeper into the operations of Surana Group and its associates. The agency’s thorough examination has already yielded significant documentation that reveals the scale of these fraudulent transactions.
The repercussions of this case not only impact the real estate market but also cast a long shadow over the reputation of those involved, including Mahesh Babu. As he prepares to address the inquiries, the entertainment industry and fans alike are closely monitoring the developments.
For more information on the enforcement measures taken by the ED and updates on high-profile money laundering cases, visit the official Enforcement Directorate website.
Stay tuned as we continue to follow this unfolding story!
