ED Unearths Rs 23 Cr Property Of Cuttack-Based Businessman Accused Of Money Laundering

210

New Delhi: The Enforcement Directorate (ED) has unearthed property worth around Rs 23 crores during raids at the properties of a Cuttack-based businessman, Pawan Kumar Jajodia, under the Prevention of Money Laundering Act (PMLA).

The ED, in a press note issued today, said that search operations were carried out on 17th January 2022 at three places including his residence, business premises and godown of Pawan Kumar Jajodia in Cuttack.

During the searches, various incriminating documents were seized. Documents related to landed properties & buildings worth Rs 23 Crore have been seized.

Also, ED initiated money laundering investigation on the basis of FIR registered by the State Vigilance Cell and EOW of Odisha State under Sections 420 and 120B of IPC against Jajodia.

In the FIR, it was alleged that Pawan Kumar Jajodia has caused loss to Government exchequers to an extent of Rs.21.86 Crore by using false billings, using non-existing addresses for firms/companies under different names and also using fake and untraceable IDs. Further investigation is under progress, the ED said.

Comments are closed.

Breaking