Bhubaneswar: Enforcement Directorate (ED) carried out raid at the residence a man, stated to be heading Odisha operations of a Kolkata-based trading firm, in Mayurbhanj district on Wednesday over alleged financial fraud to the tune of Rs 70 crore.
According to sources, the search operation was conducted by the ED sleuths at the house of Ishwar Bindhani in Bishol village under the jurisdiction of Kaptipada police station in the district.
A three-member ED team, accompanied by two bank officials and police personnel, launched the search operation early in the morning.
Bindhani is alleged to have been operating as the Odisha head of a Kolkata-based trading company. It was alleged that he collected more than Rs 70 crore from people in several parts of Odisha, including Mayurbhanj, Kataka, Bhubaneswar and Jagatsinghpur.
Several complaints had been lodged earlier over the alleged financial fraud. Following the complaints, the ED launched its investigation and conducted searches at Bindhani’s residence.
The search operation was in progress and further details about the findings of the raid and the next course of action by the investigating agency are awaited.
