New Delhi: The Enforcement Directorate (ED) has filed a chargesheet under the provisions of Prevention of Money Laundering Act (PMLA) against Jyoti Ranjan Beura aka Golden Baba in a forgery case.
The money laundering case against Golden Baba, proprietor of Jyoti Trading and Co Bhubaneswar, stems from an Economic Offences Wing (EOW) FIR and chargesheet of the Odisha Police filed for fraud perpetrated by him in lieu of providing loans to the tune of Rs 5.50 crore to certain businessmen in the state.
The ED investigation revealed he had cheated several businessmen to the tune of crores of rupees by alluring them to provide unsecured loan/financial assistance at an attractive rate of interest. “He fraudulently received Letter of Credit from them in the guise of business relationship development and discounted the same in the account of Jyoti Trading & Co. by creating and presenting false and fabricated bills without providing them the promised financial assistance/unsecured loan, and thus, siphoned off the said amount for his personal use and was living a lavish life out of such proceeds of crime,” said an ED official.
In August, the central agency had attached assets worth Rs 1.53 crore of the alleged fraudster based in Odisha, as proceeds of crime. It had also frozen bank balances amounting to Rs 52 lakh, seized two high end vehicles (one AUDI Q5 and another BMW 520D) having purchase value of Rs 56 lakh as part of a money laundering investigation against him. A total of 19 cases are pending against him in various police stations in the state.
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