Kochi, Feb 18 (PTI) The Enforcement Directorate on Wednesday said it has attached an immovable asset worth Rs 39 lakh linked to popular Malayalam actor Jayasurya as part of a money laundering investigation related to alleged cheating with investors.

The actor and his wife Saritha were questioned by the federal probe agency in December 2025 in the case.

The ED investigations stem from a Kerala Police FIR against a local man named Swathi Rahim and others on allegations of cheating multiple investors by inducing them to invest money in an online bidding application called 'Save Box', which promised "lucrative" returns, according to the agency.

Rahim is the managing director of Save Box Concepts Pvt Ltd.

ED officials had earlier said Rahim made some payment to Jayasurya, 47, in lieu of obtaining his endorsement as a brand ambassador for the said investment scheme.

Soon after the questioning, Jayasurya had said in a social media post that all his financial transactions were legal.

"How can we guess what people who approach us for advertisements will do in the future?" Jayasurya had posted on his Instagram page.

Stating that he had only entered into legitimate transactions, the actor said, "I am an ordinary, responsible citizen who followed all rules and paid taxes to the government exchequer." The agency said in a statement that a provisional order was issued under the Prevention of Money Laundering Act (PMLA) on Tuesday to attach an immovable property in Kerala worth Rs 39.01 lakh (equivalent in value to the quantified proceeds of crime) that was "received by" Jayasurya.

The ED said probe found that proceeds of crime worth Rs 39.01 lakh (from four specific complainants after accounting for partial refunds) were generated through "cheating" and were "diverted" for various purposes including celebrity brand endorsements, cryptocurrency trading losses, personal expenses and others.

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

The ED registered a case in September 2023 taking cognisance of at least four FIRs registered by the Thrissur East police. PTI NES TGB KVK KVK

Provisional attachment under PMLA used to secure asset linked to alleged investor cheating and diverted endorsement proceeds. Provisional attachment under the Prevention of Money Laundering Act was used to secure an immovable property in Kerala linked to proceeds allegedly generated through cheating by an online bidding application, with investigators tracing diverted funds to celebrity endorsement payments, cryptocurrency trading losses and personal expenses and issuing a provisional order to preserve the property equivalent to the identified proceeds.