Bhubaneswar: The Economic Offences Wing (EOW) of the Crime Branch, Odisha Police, on Wednesday seized a luxury car belonging to Soumya Shankar alias Raja Chakra, the prime accused in a multi-crore financial fraud linked to a cooperative society in Keonjhar district, officials said.
According to the EOW, the vehicle was seized from an apartment in Bhubaneswar after investigators established that it had been purchased using proceeds from the alleged crime. The case pertains to the diversion and misappropriation of funds meant for the welfare of local tribal communities residing near a state-run iron ore mining area.
Soumya Shankar, a Biju Janata Dal (BJD) leader from Keonjhar, was arrested in March this year in connection with the case. The EOW stated that the fraud involved massive financial irregularities in the Gandhamardhan Loading Agency & Transporting Cooperative Society Ltd, Suakati, Keonjhar.
“As found during the investigation, the vehicle has been procured from the crime proceeds of the case relating to massive fraud and misappropriation of funds of Gandhamardhan Loading Agency & Transporting Cooperative Society Ltd, Suakati, Keonjhar by Soumya Shankar @ Raja Chakra and his associates involving Rs 40–50 crore,” the EOW said in an official statement.
Investigators have so far established the misappropriation of more than Rs 32 crore from the cooperative society. Five persons, including Soumya Shankar, have been arrested in the case to date, and all are currently in judicial custody.
The EOW said further investigation is underway to trace additional assets allegedly acquired through the proceeds of the crime and to ascertain the full extent of the financial irregularities.
