Bhubaneswar: The Economic Offences Wing (EOW) which is currently investigating the fraud committed by Jyotiranjan Beura alias Golden Baba Monday revealed that the accused had lured many companies outside the state to provide them loans at cheaper rate of interest.
The 39-year-old accused, known as Golden Baba for his penchant for wearing gold, was initially arrested by Chandrasekharpur police December 31.
Police said the investigation so far has revealed that Beura signed agreements with a Hyderabad-based construction company, a Thane-based private hospital and two medical equipment suppliers in Odisha to provide loans worth Rs 300 crore.
“He used to claim that he had immovable properties worth hundreds of crores in Dubai, Singapore, and Durban in South Africa. He often produced forged documents to substantiate his claims. He also used to claim to be the owner of nine companies having an annual turnover of around Rs 3,800 crore. We have seized documents related to his income tax return and are further verifying the documents to ascertain whether those were genuine,” said an EOW official.
Police suspected Beura of preparing forged documents to attract people for monetary transaction. “We have not found the proof of any monetary transaction of the accused with the private companies. However, the accused used to stay on rent at Chandrasekharpur. We are also trying to find out the money trail,” the EOW official added.
Beura was initially arrested for allegedly duping a Delhi-based firm with the promise of providing loan to the tune of Rs 110 crore. Later, more than a dozen cases surfaced against Beura from various police stations in Bhubaneswar and other parts of the state. Subsequently, the EOW took over the case to find out the money trail. Beura allegedly spent lakhs to fulfill his political ambition.
