ED summons actor Prakash Raj in Rs 100 crore ponzi scam linked to Pranav Jewellers

Actor Prakash Raj has been summoned by the Enforcement Directorate (ED) in an alleged Rs. 100-crore Ponzi scheme linked to Pranav Jewellers. He was the brand ambassador of the said chain which has been accused of running the scam. Several branches of the jewellery chain were raided in Tamil Nadu, Puducherry, and Chennai by ED for duping investors of Rs. 100 crore and running the Ponzi scheme. Raj is yet to release a statement regarding the summon.

 

ED summons actor Prakash Raj in Rs 100 crore ponzi scam linked to Pranav Jewellers

 

As reported by NDTV, lookout notices were issued against the owner Madhan and his wife earlier in November. The Economic Offences Wing (EOW) filed a case against the owner in Tamil Nadu and the stores run by Pranav Jewellers were shut down in October 2023. "Pranav Jewellers failed to return the amount to such investors and the firm (Pranav Jewellers) and other connected persons cheated the public by diverting public funds to shell entities/entry providers under the garb of purchase of bullion/gold ornaments," the ED said in the statement on Thursday.

 

Meanwhile, on the work front, Prakash Raj was last seen in Ranga Maarthaanda and will reportedly star in Pushpa 2: The Rule.

 

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