ED Issues Notice to Tollywood Star Mahesh Babu in Real Estate Money Laundering Case
In a major development, the Enforcement Directorate (ED) has issued notices to Tollywood superstar Mahesh Babu in connection with a money laundering investigation involving Hyderabad-based real estate firms Sai Surya Developers and Surana Group.
Hyderabad: In a major development, the Enforcement Directorate (ED) has issued notices to Tollywood superstar Mahesh Babu in connection with a money laundering investigation involving Hyderabad-based real estate firms Sai Surya Developers and Surana Group.
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Mahesh Babu Under ED Scanner Over ₹5.9 Crore Endorsement Deal
According to sources, the ED investigation revealed that Sai Surya Developers allegedly paid ₹5.9 crore to Mahesh Babu for promoting their real estate projects. The payment reportedly included ₹3.4 crore via cheques and ₹2.5 crore in cash. While the actor is not directly accused in the real estate scam, the ED is probing the financial transactions related to the endorsement deal.
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ED Raids and Money Laundering Probe
The ED’s action follows recent raids on the offices of Surana Group and Sai Surya Developers, initiated after a complaint filed by the Telangana Police against K. Satish Chandra Gupta (owner of Sai Surya Developers) and Narendra Surana (director of Surana Group).
Authorities allege that the companies engaged in large-scale fraud, including:
- Selling plots in unauthorized layouts
- Double selling the same plots to multiple buyers
- Providing fake registration guarantees
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Suspected ₹100 Crore Fraud and Celebrity Links
The ED suspects illegal transactions amounting to nearly ₹100 crore were made by these firms. A portion of this black money is believed to have been diverted to celebrities, including Mahesh Babu, in the form of promotional payments for real estate ventures.
What This Means for Mahesh Babu
While Mahesh Babu’s team has yet to issue an official statement, sources say the actor has been asked to provide documentation and clarity on the payments received from Sai Surya Developers. The ED may also call him in for questioning if further discrepancies are found.
