Mahesh Babu summoned by ED in real estate money laundering case

Telugu supertar Mahesh Babu has been summoned by the Enforcement Directorate (ED) for questioning on April 28 in connection with a money laundering investigation. The case centers on two Hyderbad-based real estate firms, Sai Surya Developers and the Surana Group, which are accused of defrauding buyers by selling the same land plots multiple times after receiving advance payments.

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Mahesh Babu served as the brand ambassador for Sai Surya Developers’ project ‘Green Meadows’, located on 14-acre site in Shadnagar in Ranga Reddy district. The actor allegedly received Rs 5.9 crore for his endorsement where Rs 3.4 crore was received through cheque and Rs 2.5 crore in cash. The ED is examining whether his involvement contributed to building public trust in the project, which has now been linked to fraudulent practices.

The probe was initiated following a complaint by a 32 year old software engineer, who, along with others, invested a total of 3 crore in the project in April 2021. On April 16, ED officials conducted searches at various locations related to the firms, including properties in Secunderabad, Jubilee Hills and Bowenpally. Although Mahesh Babu has not been accused of direct involvement in the fraud, his association with the project is under review as part of the larger financial investigation.

The case is being pursued under the Prevention of Money Laundering (PMLA) Act, 2002, with financial irregularities estimated to be around Rs 100 crore.