The Directorate of Enforcement (ED) filed a Prosecution Complaint on 21/08/2023 in the Hon’ble Special Court, PMLA, Khorda at Bhubaneswar against Jyoti Ranjan Beura @ Golden Baba, S/o Shri Bijay Kumar Beura, Proprietor of M/s Jyoti Trading and Co., Bhubaneswar under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The Prosecution Complaint has been heard by the Hon’ble Special Court.
The ED launched an inquiry based on an FIR filed by EOW PS, CB, CID, Odisha Police, Bhubaneswar, and Chargesheets filed by them for the commission of an offence under various sections of the IPC, 1860.
An investigation by the Enforcement Directorate uncovered that Jyoti Ranjan Beura, operating through M/s Jyoti Trading & Co., defrauded several business individuals of significant amounts. He enticed them with the promise of unsecured loans or financial aid at an attractive interest rate. Under the guise of fostering business relationships, he deceitfully obtained Letters of Credit from them. Subsequently, he discounted these Letters of Credit in the account of M/s Jyoti Trading & Co. by generating and submitting falsified bills. Despite not fulfilling his commitment to providing the promised financial assistance or unsecured loans, the Bureau redirected the funds for personal use, leading a luxurious lifestyle funded by the proceeds of this criminal activity.
Previously, the ED had frozen Rs. 52 lakhs in bank balances, confiscated two high-end vehicles (one AUDI Q5 and another BMW 520D) with a purchase value of Rs. 56 lakhs, and provisionally attached assets totalling Rs. 1.53 crores of Jyoti Ranjna Beura @ Golden Baba, Prop. of M/s Jyoti Trading and Co.
