The Enforcement Directorate (ED) has intensified its probe into the alleged multi-crore financial fraud linked to the Save Box bidding application, with actor Jayasurya facing fresh questioning by the central agency. The actor was summoned to the ED's office in Kochi on Monday, marking at least the second time he has been interrogated in connection with the case.
Details of the ED Interrogation
Sources indicate that the federal agency questioned Jayasurya extensively about his association with the Save Box app, for which he served as a brand ambassador. The primary line of inquiry was to ascertain whether the actor had any financial dealings or transactions with the company's promoters. This follows an earlier round of questioning that took place on December 24 last year.
The investigation revolves around serious allegations that the app's operators duped investors of crores of rupees by promising unrealistically high returns. The ED suspects that the promoters leveraged celebrity endorsements, including Jayasurya's, to build credibility and trust among potential investors.
The Core of the Save Box Fraud Case
The case originated with the arrest of Swadiq Rahim, a native of Thrissur and the owner of the Save Box app. He was arrested by the Thrissur East Police in 2023. Rahim had launched the platform in 2019, marketing it aggressively as India's first online auction and investment platform.
Investigators revealed that Rahim employed a multi-pronged strategy to attract funds. He lured investors with promises of high returns through various schemes, including:
- Auction-based sales of electronic gadgets.
- Franchise opportunities for a delivery service named Save Box Express.
- Funding opportunities for startups.
- Future plans to position the group as a leading cryptocurrency agency.
However, the promised returns never materialized for the investors, leading to numerous complaints and ultimately, Rahim's arrest. Notably, Rahim, who has reportedly acted in two films and co-produced another, is believed to have used his film industry connections to gain access to celebrities for promotional activities.
Celebrity Links Under Scanner
The probe has highlighted the role of celebrity endorsements in the alleged scam. Investigators stated that the promoters systematically used photographs and public appearances with actors to canvass investments and lend an air of legitimacy to their operations. The ED is examining whether the celebrities involved were merely paid ambassadors or had deeper financial involvement with the company's promoters.
The questioning of a prominent actor like Jayasurya underscores the agency's focus on unraveling the entire network and understanding how the app managed to amass such significant investor funds. The case continues to develop as the ED pieces together the financial trail and the methods used to allegedly defraud the public.
