What Is The Save Box Fraud Case? Why The Enforcement Directorate Questioned Actor Jayasurya

Jayasurya Questioned By ED In Save Box Fraud Case: Malayalam actor Jayasurya appeared before the Enforcement Directorate (ED) on Monday for questioning in connection with the investigation into the Save Box fraud case. This marks his second round of interrogation, with officers examining the circumstances surrounding his association with the company that operated the Save Box online auction app. The actor arrived at the ED's Kochi office accompanied by his wife, as the agency continued to probe allegations of large-scale financial irregularities tied to the platform.

According to a report by Mathrubhumi English, the ED summoned Jayasurya after investigators learned that he had entered into a promotional agreement to act as the brand ambassador for Save Box. Officials are reportedly assessing whether the endorsement contract or any related financial exchanges had any bearing on the transactions currently under scrutiny. The agency's questions are understood to focus on how the actor became linked with the company, the nature of the contract he signed, and whether he had knowledge of the scheme's operations.

Investigation Details and Allegations Against Save Box Founder

The Save Box case has been under investigation for nearly two years. The controversy surfaced following the arrest of the company's founder, Swathiq Rahim, in January 2023. Swathiq was detained by Thrissur East Police after a local resident complained that he had been duped with promises of a franchise under the Save Box brand. What initially appeared to be an isolated cheating allegation gradually expanded into a wider financial scandal as more complaints emerged.

Investigators later uncovered claims that Swathiq had collected large sums from individuals by offering unusually high returns, reportedly as much as ₹25 lakh per month, under various investment schemes tied to Save Box. More than a hundred people are believed to have invested in the venture, lured by assurances of profitable returns and opportunities to operate franchises. As the promised payouts failed to materialize, several investors came forward alleging fraud, prompting a broader investigation into the company's operations.

Save Box promoted itself as an online auction platform, also operating a mobile app that allowed users to bid on electronic gadgets at discounted prices. Participation required purchasing virtual coins, which were then used to enter auctions. The company also claimed to be India's first mobile app built entirely around auction bidding, a claim that helped it gain attention among potential users.

Beyond the investment-related allegations, there were additional accusations that Swathiq misled individuals by promising them business tie-ups and even deceived film personalities by providing old smartphones repackaged with new casings.

With multiple complaints and substantial financial losses reported by investors, the ED's investigation continues, focusing on the money trail, the app's business model, and the roles of those connected with Save Box.