Actor Prakash Raj has been given a clean chit by the Tamil Nadu police in connection with a money laundering case linked to an alleged ₹100 crore ponzi and fraud case against Tiruchirapalli-based Pranav Jewellers.
According to media reports, the Special Cell, investigating economic offenses, has submitted a report stating that the actor is not involved in the investment fraud. According to the police, Prakash Raj was only acting in an ad film as the brand ambassador of the jewelry shop, and there was no need to question him. The Tamil Nadu police announced their stance after the Enforcement Directorate (ED) issued a summons to Prakash Raj in the case. The case relates to the alleged duping of investors after receiving Rs 100 crore on the pretext of making huge profits.
Prakash Raj wrote on X, “For those who don’t understand Tamil BREAKING NEWS:-Official announcement of the Investigation team. Actor prakash raj is not involved in any ponzi scam of tamilnadu s Pranav jewellers.. I thank everyone who trusted me and stood by me.”
The ponzi scheme allegedly operated by the entity Pranav Jewellers has come under the ED's scrutiny based on a First Information Report (FIR) filed by the Economic Offences Wing (EOW) in Tiruchirapalli against Pranav Jewellers and others involved in the alleged financial wrongdoing. As per the EOW, Pranav Jewellers collected a staggering Rs 100 crore from the public on the pretext of a gold investment scheme, promising lucrative returns. However, the company allegedly failed to fulfill its commitment, leaving investors in the lurch.