Odisha: ED seizes Audi car of alleged conman

The Enforcement Directorate (ED) said on Monday it has seized an Audi car valued at Rs 51 lakh as part of a money laundering investigation against Jyoti Ranjan Beura alias Golden Baba, an alleged fraudster based in Odisha.

The Q5 model of the German luxury car maker was recovered by the federal probe agency in the last week of April.

The money laundering case against the alleged fraudster stems from an economic offences wing (EOW) FIR and charge sheet of the Odisha Police filed on charges of fraud perpetrated by him in lieu of providing loans to the tune of Rs 5.50 crore to certain businessmen in the state.

Jyoti Ranjan Beura, in the capacity of the sole proprietor of Jyoti Trading Co., had signed several agreements with various persons and entities to provide financial assistance in their business and received ''proceeds of crime'' as advance and defrauded by ''siphoning off'' the advance amount through creation of forged and fabricated documents, the ED said in a statement.

Beura is alleged to have ''diverted'' the money received through this act into various accounts opened in the name of Jyoti Trading Co. and some other companies controlled by him.

The ED had earlier frozen bank deposits worth Rs 50.47 lakh kept in three accounts maintained in the name of Beura.