PMLA Court Takes Cognisance of ED Chargesheet Against Golden Baba

New Delhi: A Special PMLA Court has taken cognisance of the chargesheet filed by the ED against Jyoti Ranjan Beura alias Golden Baba under the Prevention of Money Laundering Act (PMLA).

The ED had started a probe against the Golden Baba on the basis of FIR and chargesheet against him by the Economic Offences Wing, CB, CID, of Odisha Police.

An 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 a 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, and seized one AUDI Q5 and another BMW 520D worth Rs 56 lakh.  ED also attached assets amounting to Rs 1.53 crore of this cheat named ‘Golden Baba’.