Bhubaneswar: The Enforcement Directorate (ED) on Wednesday conducted a search at the residence of a man suspected of heading the Odisha operations of a Kolkata-based trading company in connection with an alleged financial fraud involving more than Rs 70 crore.
A three-member ED team, accompanied by two bank officials and police personnel, launched the search operation early in the morning at the residence of Ishwar Bindhani in Bishol village under Kaptipada police station limits in Odisha’s Mayurbhanj district.
Bindhani is suspected of having collected more than Rs 70 crore from people across various parts of Odisha, including Mayurbhanj, Cuttack, Bhubaneswar and Jagatsinghpur, allegedly on behalf of the Kolkata-based company.
Several complaints had reportedly been lodged in connection with the alleged financial fraud. Acting on these complaints, the ED initiated an investigation and conducted a search at Bindhani’s residence.
The search operation was underway at the time of filing this report.
Further details regarding the findings of the search and the investigating agency’s next course of action are awaited.
