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Cricketing legend MS Dhoni has been drawn into the controversy surrounding the G Square Housing scam, with 11 FIRs filed against him in Tamil Nadu, as reported by Cricket Caption. Dhoni, who served as the brand ambassador for the real estate company, is accused of misleading homebuyers by endorsing the firm, which is now alleged to have been involved in fraudulent activities.
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Accusations Against Dhoni
Homebuyers allege that Dhoni’s stature and credibility played a pivotal role in convincing them to invest in G Square’s projects, which were reportedly not legally approved. This has led to significant financial losses for investors.
While there is no direct evidence linking Dhoni to the company’s fraudulent practices, his endorsement has come under scrutiny, raising questions about the ethical responsibilities of celebrity brand ambassadors in India.
What Is the G Square Scam?
G Square, reportedly linked to one Ramajeyam (Bala), has been accused of orchestrating a complex financial scam. Here are the key allegations:
- Network of Shell Companies:
The company allegedly created a web of 45 entities co-registered with Bala’s wife, Sreekala, to launder money and evade scrutiny from regulatory authorities. - Rapid Financial Growth:
Despite earlier financial losses, G Square reportedly saw explosive growth starting in 2021, coinciding with the rise of the DMK party in Tamil Nadu. - Questionable Practices:
The scam involves concealing financial misdeeds and operating through a sprawling network to maintain the facade of legitimacy.
Entities Linked to G Square
The vast network of companies linked to G Square includes:
- G Square Zamin Properties LLP
- Lotus Horizon Developers LLP
- G Square Builders LLP
- G Square Real Estates LLP
- And many more, spanning over 45 entities.
These companies are alleged to have been used for fraudulent financial operations, with buyers unknowingly falling victim to the scam.
Impact of Dhoni’s Endorsement
Dhoni’s association with G Square has added legitimacy to the company in the eyes of investors. Buyers claim that his involvement heavily influenced their decision to invest. While Dhoni himself may not have participated in the company’s fraudulent practices, the FIRs highlight growing concerns over the ethical accountability of celebrity endorsements.
Celebrity Accountability Under Scrutiny
This incident has reignited debates about the role of celebrities in endorsing brands.
- Ethical Responsibility: Should celebrities vet companies more thoroughly before associating with them?
- Consumer Protection: Do endorsements by public figures mislead consumers into making risky investments?
Looking Ahead
As the investigation unfolds, MS Dhoni’s role remains under public and legal scrutiny. While there is no conclusive evidence of his involvement in fraudulent activities, the case serves as a stark reminder of the potential fallout from high-profile endorsements.
This controversy is likely to have broader implications for celebrity endorsements in India, emphasizing the need for stricter accountability and transparency.
