Archive · 1 Sep 2025
ED Raids Odisha Businessman, Seizes Luxury Vehicles, Cash
The ED, which investigates financial crimes, raided a businessman's home in Odisha.
They took 10 fancy cars, like Porsches and BMWs, and three superbikes.
They also found cash and jewelry.
The businessman is suspected of being involved in a money laundering scheme related to a bank fraud of ₹1,396 crore.
The investigation is connected to a company called ITCOL, which is accused of getting loans using fake documents and not using the money properly.
The ED seized 10 luxury vehicles and 3 superbikes from a businessman's home.
Searches were conducted on September 30 in Bhubaneswar, Odisha.
Cash and jewelry worth Rs 1.12 crore were also seized.
The case is linked to a money laundering investigation related to a bank fraud of ₹1,396 crore.
The ED is investigating a bank fraud case involving M/s Indian Technomac Company Ltd.
- Who
- The Enforcement Directorate (ED), Shakti Ranjan Dash
- What
- Seized luxury vehicles, cash, and jewelry from an Odisha businessman's home.
- When
- Sunday
- Where
- Bhubaneswar, Odisha
- Why
- Investigating a money laundering case linked to a bank fraud involving ITCOL.
- Subject
- Money Laundering Investigation
- Agency
- Enforcement Directorate (ED)
- Businessman Raided
- Shakti Ranjan Dash
- Seizures
- 10 luxury vehicles, 3 superbikes, cash, jewelry, and records
- Cash Seized
- Rs 13 lakh
- Jewelry Value
- Rs 1.12 Crore
- Bank Fraud Amount
- ₹1,396 crore
