ED to quiz Telugu actor Mahesh Babu in laundering probe linked to 2 Hyderabad real estate groups

HYDERABAD: Enforcement Directorate (ED) on Monday summoned actor Mahesh Babu on April 28 in connection with probes into alleged money laundering by two Hyderabad real estate groups accused of defrauding buyers.
Mahesh Babu had allegedly endorsed dubious projects of Sai Surya Developers and Surana Group. According to sources in ED, he had received Rs 5.9 crore for endorsing projects of Sai Surya Developers. Of this, Rs 3.4 crore was paid through cheque and 2.5 crore by cash.
ED officials suspect the cash component forms part of laundered money collected through fraudulent practices. ED had launched its money-laundering probe based on FIRs by Telangana police against Narendra Surana, director of Bhagyanagar Properties Ltd., K Sathish Chandra Gupta, proprietor of Sai Surya Developers, and others.
The entities allegedly collected crores in advance from unsuspecting buyers by offering plots in unauthorised layouts, making multiple sales of the same plots, and providing false registration assurances.
The actor's endorsement of Sai Surya projects reportedly influenced several people to invest, unaware of the fraudulent practices behind the venture. While the actor might not have been involved in the scam's operational aspects, ED is probing the money he received from the developers.
In searches on April 16, ED claimed to have seized documents and cash-related evidence from the premises of Surana group honcho Narendra Surana and Sai Surya Developers.
The documents indicate large-scale financial irregularities, including Rs 100 crore in questionable transactions, ED said. ED sources confirmed proceeds of crime from the fraudulent schemes were diverted to related parties, including celebrities involved in promotional campaigns.
The agency is preparing to attach properties acquired from the laundered funds.