Jagapathi Babu Questioned By ED In 360 Crore Rip-off
Veteran actor Jagapathi Babu was questioned by the Enforcement Directorate (ED) for 4 hours on Thursday in reference to the Sahiti Infra fraud case, involving a whopping ₹360 crore rip-off. The ED is investigating Jagapathi Babu’s involvement in promotional campaigns for Sahiti Infra and looking for particulars in regards to the remuneration he obtained for these commercials. Particularly, the company is probing the legitimacy of funds made to Babu and analyzing monetary transactions between him and Sandu Purnachandra Rao, former director of Sahiti Infratec Ventures India Pvt. Ltd. (SIVIPL).
The ED’s investigation revealed that Sahiti Infra allegedly defrauded over 700 consumers by pre-launch presents of luxurious residential initiatives, diverting funds into a number of accounts and shell corporations whereas failing to ship promised flats or refunds. Jagapathi Babu was handled as a witness on this ongoing investigation and was requested to supply his financial institution statements for the final 15 years for verification. The ED additionally reviewed video clippings of Sahiti challenge launches attended by Jagapathi Babu and his media statements associated to the enterprise actions.
Earlier within the investigation, Sandu Purnachandra Rao was arrested on August 25 below the Prevention of Cash Laundering Act, and the corporate’s managing director, B Lakshminarayan, was taken into custody in September 2024. The ED has seized paperwork, frozen financial institution accounts, and provisionally hooked up belongings price ₹161.5 crore on this case. Investigations are ongoing, with the ED scrutinizing Jagapathi Babu’s monetary transactions and potential hyperlinks to the alleged rip-off.
The Sahiti Infra rip-off is a big case, with the ED alleging that the corporate mobilized over ₹800 crore from potential consumers by gross sales of stock in initiatives launched with out vital permissions. The company’s probe has uncovered a fancy internet of monetary irregularities, together with diversion of funds and lack of escrow account programs. Because the investigation continues, Jagapathi Babu’s position within the rip-off stays below scrutiny.
