Golden Baba’s Costly Audi Car Seized by ED

Bhubaneswar: During the investigation of a case against Jyoti Ranjan Beura alias ‘Golden Baba’, the Enforcement Directorate (ED) seized a costly Audi Q5 car worth around Rs 51 lakh. The vehicle was seized by the ED under the provisions of the Prevention of Money Laundering Act (PMLA).

It is alleged that this ‘Golden Baba’ has cheated over Rs 5.50 crore from businessmen and commoners of Odisha in the name of providing loans.

A case against him was filed by EOW, Bhubaneswar. The ED case is based on it.

Golden Baba, is the sole proprietor of Jyoti Trading & Co. He had signed several agreements with various persons and entities to provide financial assistance. It is alleged that he received proceeds of crime as advance and defrauded by siphoning off the advance amount through the creation of forged and fabricated documents and diverting the money received through the above act in various accounts opened in the name of Jyoti Trading & Co. (Proprietorship firm) and other companies controlled by him, a statement of the ED on Monday said. ED has already frozen a sum of Rs 50.47 lakh in the three bank accounts in the name of Golden Baba of Jyoti Trading & Co.