ED Questions Actor Jayasurya in Save Box Investment Fraud Probe

As India’s enforcement agencies intensify scrutiny of online investment platforms, the role of celebrity endorsements is once again under the spotlight. In Kochi, the Enforcement Directorate (ED) on Monday questioned Malayalam film actor Jayasurya in connection with its probe into the Save Box bidding application, which is accused of running a large-scale investment fraud.

ED Summons Actor at Kochi Office

According to officials familiar with the development, Jayasurya appeared before ED officers at their Kochi office, where he was questioned about his association with Save Box as a brand ambassador. The agency is examining whether his endorsement involved any financial transactions or deeper involvement with the promoters of the platform.

Sources indicated that the questioning followed an earlier round of inquiries on December 24, suggesting that investigators are methodically reconstructing the promotional and financial structure of the scheme.

Officials clarified that the questioning is part of fact-finding efforts and does not imply wrongdoing on the actor’s part.

Rise and Collapse of the Save Box Platform

Save Box, launched in 2019, was promoted as an online auction and investment platform promising high returns through innovative bidding models. Its founder, Swadiq Rahim, was arrested in 2023 by Thrissur East Police after multiple complaints from investors who alleged that promised returns were never delivered.

Investigators allege that substantial funds were collected by projecting the platform as a disruptive financial opportunity, while the underlying business model failed to generate legitimate returns.

Publicity, Promises and Investor Trust

Authorities say the platform relied heavily on marketing campaigns featuring public figures to build credibility. Promotional events, photographs and media appearances involving actors were used to attract investors, many of whom were first-time participants in online investment schemes.

As the investigation deepened, questions emerged about how promotional visibility may have influenced investor confidence - a factor enforcement agencies now routinely analyse in financial fraud cases.

Such probes often involve detailed financial reviews similar to those carried out under auditing services in india, where transaction trails, promotional expenses and fund flows are examined to determine accountability.

Celebrity Endorsements Under Lens

Investigators are also assessing whether proximity to the film industry was used strategically to legitimise the platform’s claims. Rahim himself had appeared in films and co-produced projects, connections officials believe may have helped cultivate trust.

The ED is reviewing promotional materials and endorsement agreements to understand how Save Box positioned itself and whether investors were misled through perceived credibility.

Investigation Continues

The Enforcement Directorate has said that the probe is ongoing and further questioning may take place as financial trails and promotional links are analysed. The case underscores a growing regulatory focus on online investment platforms and the accountability mechanisms surrounding endorsements and investor communication.