Golden Baba’s Rs 1.5 Cr Assets Attached by ED

Bhubaneswar: The Enforcement Directorate (ED) has attached assets worth Rs 1.53 crore of Jyoti Ranjna Beura alias Golden Baba.

According to ED, Golden Baba, who was also the proprietor of Jyoti Trading and Co Bhubaneswar, had acquired these assets as proceeds of criminal activities.

An FIR related to fraud was lodged by the EOW of Odisha police against the Baba He had allegedly cheated businessmen of Odisha to the tune of Rs 5.50 crore in the name of arranging loans.

Later investigation by the ED found that the Golden Baba operated his cheating racket through Jyoti Trading & Co. He was luring businessmen through promises of unsecured loans and financial assistance at an unbelievable rate of interest. He fraudulently gained Letter of Credit from them and discounted the same in his account by creating and presenting false and fabricated bills. He never provided the promised financial assistance/unsecured loan.

ED had frozen bank balances of Golden Baba worth Rs 52 lakh, seized one AUDI Q5 and another BMW 520D worth Rs 56 lakh from possession of Jyoti Ranjna Beura alias Golden Baba.