- Mahesh Babu is summoned to assist in an ED probe regarding money laundering linked to two real estate companies.
- The actor reportedly received ₹5.9 crore as an endorsement fee from Sai Surya Developers.
- Investigators are scrutinizing the actor’s endorsement, suspecting the money to be linked to fraudulent land deals.
Mahesh Babu has been summoned by the Enforcement Directorate (ED) to assist in a money laundering investigation involving two Hyderabad-based real estate firms.
The investigation has escalated due to the suspicion that the ₹5.9 crore Mahesh Babu received may be proceeds of crime. Part of this payment was made in cash, raising further concerns over the legitimacy of the funds.
ED Investigates Mahesh Babu’s Endorsement Fees in Ongoing Money Laundering Case
Mahesh Babu’s involvement in the ongoing ED investigation into real estate fraud centers around endorsement fees he received from Sai Surya Developers. The two companies under investigation, Sai Surya Developers and Surana Group, are accused of defrauding property buyers through fraudulent land deals. The actor received ₹5.9 crore for promoting the developers’ projects. Part of the payment was made in cash.
Though Mahesh Babu is not directly accused of any wrongdoing, investigators are looking into how the money he received fits into the larger picture of money laundering. The real estate companies allegedly funneled illegal proceeds through such endorsement deals. This was done to cover up fraudulent transactions. The actor is expected to help the ED piece together the flow of these funds.
The ED’s investigation was triggered by the discovery that proceeds of crime were likely being laundered through real estate transactions. As part of their probe, the agency has raided the involved companies and seized assets, including cash linked to fraudulent land deals. The endorsement payments to Mahesh Babu have drawn attention because of their suspected link to the money laundering operations.
Although Mahesh Babu’s role is currently limited to his endorsement activities, the inquiry may reveal more about the involvement of high-profile celebrities in laundering illegal funds through promotions. His statement, due on April 27, is expected to clarify his position. It will assist in the ongoing investigation into the real estate scam.
Mahesh Babu’s summons by the ED underscores the growing scrutiny on celebrity endorsements in connection with money laundering activities. His statement will likely provide more clarity.
“Celebrity endorsements can sometimes hide the true nature of financial transactions, as seen in Mahesh Babu’s connection to the alleged real estate fraud.”
