The ED arrested a key accused in a Rs 2,676 crore Nexa Evergreen land investment fraud, Subhash Chandra Bijnoriya, and secured his custody from a Jaipur court till August 13 for questioning him in the case, an official said on Tuesday.
What Happened
The Enforcement Directorate (ED), Jaipur Zonal Office, arrested Subhash Chandra Bijnoriya alias Subhash Chandra Bijarnia under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, on Monday in connection with a money laundering investigation related to Nexa Evergreen fraud. After his arrest on Monday, Subhash Chandra Bijnoriya was produced before the Special Court (PMLA), Jaipur, which remanded him to the ED custody up to August 13.
ED Investigates Nexa Evergreen Group for Investment Fraud
The Enforcement Directorate (ED) has launched an investigation into the Nexa Evergreen Group, following multiple FIRs and chargesheets filed by the Rajasthan Police regarding an extensive investment fraud scheme.
Key suspects in the case, Ranveer Bijarniya and Subhash Chandra Bijnoriya—also known as Subhash Chandra Bijarniya—are accused of conspiring with their associates to mislead investors. They falsely promised that funds would be allocated to land development and plotting projects in Dholera Smart City, Gujarat, according to the ED.
The investigation has identified Bijnoriya as a principal figure in the Nexa Evergreen Group, alongside Bijarniya, who together controlled the fraudulent operations. The ED’s findings indicate that all aspects of the scheme, including the software platform, investor management, banking operations, and fund diversion, were executed under their guidance.
