ED sizes Rs 70 crores of King Khan Shah Rukh Khan

In a shocking development, the Enforcement Directorate, or simply ED, has seized Rs 70 crores (bank accounts and properties) belonging to King Khan Shah Rukh Khan.

Going into the details, an official from the ED has confirmed that, the amount has been seized after discovering evidence of money laundering.

The blow came from the Kolkata Knight Riders franchise, which he co-jointly owns.According to the ED officer, ‘Shah Rukh Khan owned KKR has come under scanner after the Rose Valley Scam was exposed.

In this regards, the ED claimed that Rose Valley sponsored the KKR franchise for two years.And it is during these two years money laundering took place in the name of shell companies, and other routes.

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Shah Rukh Khan even violated FEMA (Foreign Exchange Management Act)’.In its statement, the ED confirmed that bank accounts holding funds worth Rs 16.20 crores, and 24-acre property at various places have been seized.These seized holding amounted to the tune of Rs 70.11 crores.Along with Kolkata Knight Riders, St Xavier’s College and Multiple Reports Pvt.Ltd too have been summoned in this case.