Actor Prakash Raj Summoned by ED in Connection to Rs 100-Crore Ponzi Scheme

In a significant development, actor Prakash Raj has been summoned by the Enforcement Directorate (ED) for questioning regarding his association with an alleged ₹100-crore Ponzi scheme linked to Pranav Jewellers, a prominent chain accused of orchestrating the financial scam. 

The actor, who served as the brand ambassador for Pranav Jewellers, finds himself entangled in the ongoing investigation into the illicit activities of the jewellery chain.

The ED recently conducted raids on multiple branches of Pranav Jewellers, headquartered in Trichy and with outlets across Tamil Nadu and Puducherry, including Chennai. The agency is investigating the chain's purported involvement in a Ponzi scheme that has reportedly defrauded investors of a staggering ₹100 crore. The chain, known for its extensive presence in the region, has come under scrutiny for its alleged fraudulent financial practices.

Enforcement Directorate issues summon to actor Prakash Raj in an alleged money laundering case linked to a ponzi scheme.(file photo) pic.twitter.com/Xkm9vEqADa

— ANI (@ANI) November 23, 2023

As the brand ambassador of Pranav Jewellers, Prakash Raj's involvement in the case has drawn attention. The actor is expected to provide insights into the promotional activities and endorsements he undertook on behalf of the jewellery chain.

- PTC PUNJABI