During a search operation carried out in accordance with the PMLA, 2002, the Directorate of Enforcement (ED) confiscated a BMW 520 D car belonging to con artist Jyoti Ranjan Beura @ Golden Baba, estimated to be worth around Rs. 30 lakhs.
In accordance with the PMLA, 2002, the ED is looking into a case against Jyoti Ranjan Beura @ Golden Baba involving the fraud that was committed by him in exchange for giving loans totalling around Rs. 5.50 Crore (approximately) to needy businesspeople in Odisha. According to the Charge Sheet and FIR filed by EOW, Bhubaneswar for the alleged commission of a money laundering offence under PMLA, 2002, the ED investigation was launched.
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 offer financial support for their operations. He received proceeds of crime as an advance and defrauded by taking the advance amount by creating forged and fabricated documents and diverting the money received through the above act in various accounts opened in the name of M/s Jyoti Trading & Co. (Proprietorship firm) and other companies controlled by him.
Prior to this, on 20.01.2022, the PMLA, 2002 was used to freeze Rs. 50.47 lakhs in three bank accounts held in the name of Jyoti Ranjan Beura @ Golden Baba of Jyoti Trading & Co., and on 26.04.2023, the PMLA, 2002 was used to confiscate one AUDI Q5. Further research is now being conducted.
