Indian AML watchdog Enforcement directorate, Bhubaneshwar was able to recover a high-end Audi Q5 vehicle belonging to Jyoti Ranjan Beura @ Golden Baba on April 26, 2023. The vehicle was seized under PMLA. During the course of the investigation into the case against Jyoti Ranjan Beura @ Golden Baba, intelligence input was received.
On the basis of the Charge Sheet and FIR filed by EOW, Bhubaneswar for the alleged commission of an offence of money laundering under the Prevention of Money Laundering Act, 2002 (PMLA), the ED launched an investigation against Jyoti Ranjan Beura @ Golden Baba in relation to the fraud that was committed by him in lieu of disbursing loans totalling approximately Rs. 5.50 Crore (approx.) to needy businessmen in Odisha.
As the sole proprietor of M/s Jyoti Trading & Co., Jyoti Ranjan Beura had entered into a number of contracts with different people and organisations to give financial support for their business. He also accepted proceeds of crime as an advance payment and he deceived by taking the advance money by fabricating fake and forged documents and transferring the funds obtained via the aforementioned act into several accounts formed in the names of M/s Jyoti Trading & Co. (a proprietorship entity) and other businesses under his control.
Earlier in this case, the three bank accounts held in the name of Jyoti Ranjan Beura @ Golden Baba of Jyoti Trading & Co. and holding a total of Rs. 50.47 Lakhs were frozen. The probe is being expanded upon.
