Save Box App Fraud Case: ED Questions Actor Jayasurya

Kochi: Malayalam actor Jayasurya appeared before the Enforcement Directorate (ED) in Kochi on Monday in connection with an ongoing probe related to the Save Box app investment fraud case, official sources said. The questioning took place at the agency’s zonal office, where the actor arrived accompanied by his wife.

Sources indicated that the questioning is being carried out as part of an investigation under the Foreign Exchange Management Act (FEMA). This is the second time Jayasurya has been summoned by the ED in connection with the case. The agency is examining his association with Save Box, an online auction and investment platform, where he is believed to have served as a brand ambassador under a formal agreement.

The Save Box case dates back to January 2023, when the firm’s owner and prime accused, Swathik Raheem, also known as Swathi Raheem, was arrested by the Thrissur East Police. The arrest followed a complaint from a resident of East Fort, who alleged that Raheem had cheated investors by offering Save Box franchise opportunities and collecting large sums of money.

According to investigators, Raheem attracted investments by promising unusually high monthly returns of up to 25 lakh. More than 100 people are believed to have invested lakhs of rupees each. Complaints were lodged after investors neither received the promised returns nor got their principal amounts back.

Save Box projected itself as an online auction platform and had launched a mobile application under the same name. The company claimed that users could buy electronic items at reduced prices through online auctions. To participate, users had to purchase virtual coins issued by Save Box using real money, which were then used for bidding.

Investigators had earlier found that Swathik Raheem maintained close links with film personalities and allegedly used these associations to promote the scheme. Launch events for Save Box were organised with the presence of film actors. There were also allegations that some actors were misled, with old iPhones being repackaged and handed over as gifts in new boxes.

The ED continues to examine the financial trail and the role of individuals associated with the platform as part of the ongoing investigation. not feel like a perfect news, ensure smooth reading