ED attaches assets of ₹39 lakh of actor Jayasurya in investment fraud case

The Directorate of Enforcement (ED) has attached immovable property worth ₹39.01 lakh of actor Jayasurya as part of a money laundering probe into the alleged multi-crore Save Box Bidding App investment fraud.

The agency had questioned the actor, who had reportedly served as a brand ambassador of the app, in December 2025. It had examined whether he had any financial dealings with its promoters. The attachment order was issued on February 17, according to a release.

The company, which promoted itself as India’s first bidding application and later linked to cryptocurrency trading, allegedly collected investments from the public but failed to honour commitments, resulting in closure of operations by late 2022 and multiple criminal complaints.

The ED probe revealed that proceeds of crime amounting to ₹39.01 lakh (from four specific complainants after accounting for partial refunds) were generated through cheating and were layered/diverted for various purposes, including celebrity brand endorsements, cryptocurrency trading losses, personal expenses, and other utilisations.

The money laundering case was registered against Swathi Rahim, Managing Director of Save Box Concepts Pvt. Ltd, for defrauding investors, according to a communication.

The agency had initiated investigation on the basis of four First Information Reports (FIRs) registered by the Thrissur City East Police Station against Mr. Rahim and others under various Sections of the Indian Penal Code (IPC) 1860.

As per the FIRs, he had allegedly cheated multiple investors by inducing them to invest money in the company with false promises of lucrative returns, issuance of company shares, partnerships, or franchises in an online bidding application and related ventures, leading to misappropriation of funds, according to the release.