The Enforcement Directorate (ED) said on Friday that as part of its investigation into a case against Jyoti Ranjan Beura a.k.a. 'Golden Baba', the agency has seized a BMW car valued at around Rs 30 lakh.
The ED seized the vehicle under the provisions of Prevention of Money Laundering Act (PMLA).
'Golden Baba' allegedly cheated people to the tune of Rs 5.50 crore by promising to provide loans to them. Needy businessmen and common people in Odisha were among his victims.
The ED investigation was initiated on the basis of a charge sheet and FIR registered against the accused by the Economic Offences Wing (EOW), Bhubaneswar, on charges of money laundering under PMLA.
“Golden Baba, in the capacity of the sole proprietor of Jyoti Trading & Co., had signed several agreements with various persons and entities to provide financial assistance in their business and defrauded people by siphoning off the advance amount through creation of forged and fabricated documents and diverting the money received through the act in various accounts opened in the name of Jyoti Trading & Co. and other companies controlled by him,” the ED said.
Earlier, Rs. 50.47 lakh deposited in three bank accounts maintained in the name of Golden Baba was freezed under PMLA on January 20, 2022. One AUDI Q5 vehicle was also seized under PMLA on April 26 this year.