ED unearths cash worth Rs 1 cr during raids on ponzi firm in Odisha over Rs 900 cr fraud

The Enforcement Directorate (ED) has seized cash worth over Rs 1 crore after conducting multiple raids at 10 places in Odisha, including Berhampur, Digapahandi, Chikiti, and Bhubaneswar, in connection with alleged fraud of Rs 900 crore by chit fund company Goldenland Developers Limited. 

The central agency has seized bundles of currency notes worth Rs 1 crore in Rs 100, 200, and 500 denominations. Further raids are underway on the properties linked to Golden Land Developers Limited which is a Delhi-based company.

Officials of ED continued their search for the second day at the houses and other properties of the company’s director, manager, and employees. In Berhampur, the raid was conducted in Gosaninuagaon, Shakti Nagar Lanjipalli and Digapahandi. The raid teams have seized several documents and bank passbooks.

Worth mentioning, the company has been booked in six cases for cheating depositors to the tune of several crores. Apart from Odisha, the mega raid is going on in 20 other places across the country.