ED’s probe shows that Sadiq started JSM Pictures, a partnership firm with his step brother Nagoor Kani and JSM Pictures (OPC) Pvt Ltd around 2021 which had six films under production. Sadiq and Ameer were also business partners in a Zuko Overseas Pvt Ltd, a firm created to sell imported dry fruits in Chennai, the probe found. The agency’s investigation shows Sadiq used a middleman, AVS Marimuthu, to route Rs 10 crore of his cash into JSM Pictures. Bank accounts of several Marwaris in north Chennai were used for these accommodation entries for which they earned Rs 30,000 to Rs 2 lakh as commission, the ED probe found. Marimuthu was one of those searched by ED after registering the money laundering case.

Source: Indian Express November 17, 2024 14:03 UTC