The Enforcement Directorate (ED) announced on Saturday that it has taken action to attach assets valued at Rs 1.53 crore as part of an ongoing money laundering investigation involving Jyoti Ranjan Beura, also known as Golden Baba, an alleged fraudster from Odisha.
Under the provisions of the Prevention of Money Laundering Act, a provisional order has been issued for the attachment of these properties.
The case of money laundering against Beura, who operates under the name Jyoti Trading and Co, originates from an FIR and charge sheet filed by the Odisha Police’s Economic Offences Wing. These documents accuse Beura of engaging in fraudulent activities related to providing loans amounting to Rs 5.50 crore to certain businessmen in the state.
The Enforcement Directorate alleges that through his company, Jyoti Trading and Co, Beura deceived several businessmen by enticing them with promises of unsecured loans and financial assistance at attractive interest rates. He allegedly received Letters of Credit from these businessmen and then proceeded to create and present false bills to discount them in his account, without actually providing the promised financial assistance or unsecured loans.
The ED previously froze bank deposits totaling Rs 52 lakh and seized a BMW and an Audi owned by Beura as part of the investigation.
Prasanta Patnaik 
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