Sai Surya Developers and Surana Group money laundering case: ED summons actor Mahesh Babu on April 27 for questioning

Hyderabad: Enforcement Directorate (ED) has summoned Tollywood actor Mahesh Babu on April 27, for questioning in connection with alleged money laundering case involving two Hyderabad real estate companies.

Mahesh Babu allegedly supported bogus projects by Sai Surya Developers and Surana Group. ED sources claim that the actor was paid Rs 5.9 crore to endorse Sai Surya Developers' projects. Of this, Rs 2.5 crore was paid in cash and Rs 3.4 crore was paid via cheque.

The cash component is suspected by ED officials to be a component of money that was laundered through fraudulent means. Based on formal complaints filed by Telangana police against Narendra Surana, the director of Bhagyanagar Properties Ltd., K Sathish Chandra Gupta, the owner of Sai Surya Developers, and others, the ED began its investigation into money laundering.

By marketing plots in unapproved layouts, selling the same plots more than once, and making bogus registration promises, the organizations allegedly obtained lakhs in advance from unwary purchasers. Unaware of the fraudulent activities underlying the venture, the actor's support of Sai Surya initiatives allegedly persuaded several people to invest.

ED is investigating the money the actor received from the developers, even though he may not have been involved in the operational components of the scheme. Sleuths of the Enforcement Directorate on April 16 raided Surana Group and Sai Surya Developers in Hyderabad in a money laundering case.

The federal agency is searching the properties of two groups separately across the Twin Cities. Sai Surya Developers have a history of criminal cases against them for failing to deliver ventures on time. Sai Surya Developers' owner Satish Chandra Gupta was booked for Green Meadows venture fraud. Mahesh Babu was the brand ambassador.