Shahrukh Khan probed over cricket team investment

Posted In : Gossips
(added 10 Nov 2011)

Shahrukh Khan probed over cricket team investmentBollywood superstar Shahrukh Khan is under the scanner of India's money laundering agency over his involvement in a cash-rich local cricket league and ownership of a cricket team.Khan, co-owner of the Kolkata Knight Riders, was questioned for nearly six hours by the Enforcement Directorate (ED), over alleged financial "irregularities" in the professional Indian Premier League (IPL), reported the Hindustan Times.

According to media reports, the actor was questioned "over shareholding pattern, buying players, advertising expenditure, profits and losses."Khan was questioned on Nov 5 at the ED's office in Mumbai but no one has commented on the issue yet.Khan was reported to have purchased the IPL franchise in 2008 for nearly US$75 million (RM240 million) for a 10-year-period.

The IPL turned into a glamorous cricket event, after prominent Bollywood stars – Khan, Shilpa Shetty and Preity Zinta plus top corporate figures such as Indian billionaire Mukesh Ambani, owned teams with local and foreign players.But the league was later shrouded in controversy after allegations of "black money" investments surfaced, forcing authorities to initiate probes on IPL promoter Lalit Modi and several team owners.Three years after the launch of the IPL, the brand is now worth over US$3 billion     (RM9.6 billion).

(added 10 Nov 2011) / 13651 views

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