ED Grills Malayalam Actor Jayasurya in Save Box Investment Scam Probe

As enforcement agencies step up scrutiny of online investment platforms across India, familiar warning signs are once again coming into focus - celebrity endorsements, promises of high returns and investors left chasing answers. In Kochi this week, that pattern brought Malayalam film actor Jayasurya under the lens of the Enforcement Directorate (ED).

ED Summons at Kochi Office

On Monday, ED officials questioned Jayasurya at the agency’s Kochi office regarding his association with the Save Box bidding application, where he had served as a brand ambassador. Officials said the interaction was aimed at understanding the nature of his promotional role and whether it involved any financial transactions with the platform’s promoters.

Sources indicated that this round of questioning followed earlier inquiries conducted on December 24, suggesting that investigators are systematically mapping the promotional and financial structure behind the platform. Authorities clarified that the questioning should not be seen as an allegation of wrongdoing but as part of an ongoing probe.

The Rise and Fall of Save Box

The investigation traces back to the 2023 arrest of Swadiq Rahim, a Thrissur-based entrepreneur and owner of the Save Box app. Launched in 2019, Save Box marketed itself as India’s first online auction-cum-investment platform, blending auctions, startup funding and digital finance.

According to investigators, the platform raised substantial funds from users by promising high returns - returns that allegedly failed to materialise. Police believe aggressive marketing and a steady inflow of new investments helped sustain the operation until complaints began surfacing.

Promises, Products and Publicity

Save Box offered multiple avenues to attract investors, including gadget auctions, franchise opportunities under the Save Box Express brand and proposed startup funding models. At various stages, the platform also hinted at plans to enter the cryptocurrency space.

Authorities say celebrity endorsements played a key role in building trust. Promotional events, photographs and public appearances involving well-known personalities were widely circulated to lend credibility to the platform’s claims.

In such cases, investigators often rely on deep financial scrutiny - similar to auditing services in india - to trace fund flows, assess representations made to investors and identify discrepancies between promises and actual outcomes.

Celebrity Proximity Under Scrutiny

Investigators are also examining how proximity to the film industry may have been leveraged to reassure investors. Rahim himself reportedly acted in films and co-produced projects, links that officials believe may have strengthened investor confidence.

As part of this broader inquiry, Jayasurya’s questioning is focused on clarifying the scope of his endorsement, the duration of his association and whether any financial arrangements accompanied the promotional role. Officials said they are reviewing marketing material and public appearances to understand how investments were solicited.

The probe remains ongoing, with enforcement agencies continuing to piece together the financial and promotional ecosystem surrounding the Save Box platform.