Save Box App Fraud: More Evidence Against Actor Jayasurya

The Enforcement Directorate (ED) has uncovered further evidence indicating that actor Jayasurya received approximately one crore rupees in connection with the Save Box bidding app fraud. Investigations revealed that money was transferred from the account of the main accused, Swadiq Rahim, to the bank accounts of Jayasurya and his wife. While Jayasurya’s legal team explained that these payments were remuneration for his work as a brand ambassador, the ED plans to conduct further scrutiny of the actor’s bank accounts and intends to question him again next week.

The central agency is intensely examining whether Jayasurya’s role was strictly limited to being a brand ambassador for the Save Box app or if any financial transactions or partnerships existed between the actor and the app’s promoters. As part of this ongoing probe, Jayasurya was summoned and interrogated on December 24. The case originated in 2023 when Thrissur East Police arrested Swadiq Rahim, the owner of the Save Box app, on allegations of defrauding investors of crores of rupees. Rahim is reported to have close ties with several actors within the Malayalam film industry.

Launched in 2019, Save Box was introduced as India’s pioneering online auction-based investment platform. Its inauguration garnered significant attention, with numerous personalities from the film fraternity attending the event. Investigative officials revealed that Rahim amassed substantial funds from the public by promising high returns through various ventures. These included auction-based sales of electronic gadgets, franchises for a delivery service named Save Box Express (modeled after Amazon), funding for startups, and the launch of an entity purportedly India’s first crypto agency.

One of the most notable and enticing claims made by the scheme was the promise of a monthly income of five lakh rupees for an investment of merely 25,000 rupees. However, complaints soon surfaced from investors who alleged that none of the promised returns materialized, eventually leading to Rahim’s arrest. The ED, now handling the financial investigation, is probing allegations that Rahim leveraged his proximity to film stars to cultivate public trust and lend credibility to his scheme. The agency suspects that photographs with actors and public appearances were strategically used to bolster the project’s perceived legitimacy. It has also been noted that Rahim acted in two films and co-produced another.