The Enforcement Directorate (ED) has arrested Subhash Chandra Bijnoriya, a key operator of the Nexa Evergreen Group, in connection with a massive ₹2,676 crore money laundering investigation. The group allegedly lured investors with promises of high returns in Gujarat's Dholera Smart City.

Key Takeaways

  • Subhash Chandra Bijnoriya, a primary architect of Nexa Evergreen, has been arrested by the ED.
  • The alleged fraud involves over ₹2,676 crore collected from numerous investors.
  • The group promised 3% weekly returns and land plots in Dholera Smart City.
  • Investigation revealed a complex web of shell companies used for layering illicit funds.

The Jaipur zonal office of the Enforcement Directorate (ED) has arrested Subhash Chandra Bijnoriya under Section 19 of the Prevention of Money Laundering Act (PMLA). Bijnoriya is identified as one of the principal architects and operators of the Nexa Evergreen Group, which is embroiled in a massive ₹2,676 crore fraud case.

According to investigators, Bijnoriya and his partner allegedly operated an intricate network of companies and proprietorship concerns registered in the names of associates and investors. This network was systematically used for the layering and routing of proceeds of crime, effectively concealing the true source and ownership of the funds. The operation targeted a vast number of investors through sophisticated fraudulent schemes.

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Why This Matters

BozokMedia analysis shows that this case highlights the evolving complexity of multi-level referral schemes used in modern financial crimes. By offering not just financial returns but also physical rewards like laptops, motorcycles, and cars, the perpetrators created a false sense of legitimacy. This case serves as a stark warning against high-yield investment promises that lack regulatory transparency.

The systematic use of shell companies to mimic legitimate real estate investments remains one of the biggest challenges in curbing white-collar crime.

The investigation, triggered by multiple FIRs filed by the Rajasthan Police, revealed that investors were induced with the promise of 3% weekly returns for 60 weeks or the allotment of plots in Dholera Smart City, Gujarat. The agency has already seized ₹2.04 crore in cash and frozen approximately ₹15 crore in various bank and crypto accounts linked to the group during previous raids in 2025.

Historical Background

The Nexa Evergreen investigation gained momentum following extensive searches conducted by the ED in June 2025 across 25 locations in Jaipur, Sikar, Jhunjhunu, and Ahmedabad. These raids uncovered significant incriminating digital evidence and financial records, leading to the current arrest of the group's key leadership.

Frequently Asked Questions

1. What was the primary method of fraud used by Nexa Evergreen?
They used a Ponzi-style multi-level referral scheme, promising high weekly returns and land plots in Dholera Smart City to attract investors.

2. What actions has the ED taken so far?
The ED has arrested the key accused, seized cash, and frozen assets worth ₹15 crore in bank and cryptocurrency accounts.

Did You Know?: Money laundering often involves 'layering,' where complex financial transactions are used to distance illegal funds from their original source.