The Enforcement Directorate - ED - summoned noted actor prakash raj to appear in connection with an inquiry into a Rs 100 crore Pnizi fraud. prakash raj is accused of acting as a brand ambassador for Pranav Jewellers, a Trichy-based goldsmith chain that was subsequently discovered to have defrauded investors out of Rs 100 crores. Pranav Jewellers ceased business in october following claims of financial misconduct, and the proprietor, Madhan, has since gone into hiding.

The ED has now called prakash raj to appear in court for further inquiry. He will now face the ED's probe into the situation. The scandal is that the corporation took over Rs 100 crores in public investments with the promise of a gold-based higher-returns program but failed to deliver. The project was never implemented, and the money was never returned to the public. In addition, prakash raj has been fighting the Modi-led federal government for many years and has recently been called by the ED.

According to a source, Raj (58), a national award-winning actor, was the company's brand ambassador. In the first week of December, he was summoned to testify before an inquiry officer in Chennai. "The ED decided to record his statement to ascertain some purported payments made by the company to him and some other financial transactions," people close to the matter said.

On november 20, searches were performed in the matter of a Ponzi Scheme organized by some accused people in the name of the entity M/s Pranav Jewellers, a partnership enterprise situated in Trichy, in accordance with the requirements of the Prevention of Money Laundering Act (PMLA), 2002.
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24/11/2023 06:31 AM