Jaipur, August 11, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) has arrested Subhash Chandra Bijnoriya, one of the alleged key accused in the Rs 2,676-crore Nexa Evergreen land investment fraud case, and secured his custody till August 13 for questioning, an official said on Tuesday.
The ED’s Jaipur Zonal Office arrested Bijnoriya alias Subhash Chandra Bijarniya on Monday under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, in connection with its money laundering investigation into the Nexa Evergreen Group.
Following his arrest, Bijnoriya was produced before the Special Court (PMLA) in Jaipur, which remanded him to ED custody till August 13.
According to the agency, Rs 2,676 crore was allegedly collected from a large number of investors by Bijnoriya, Ranveer Bijarniya and their associates as part of the fraudulent investment operation.
The ED had earlier conducted searches at 25 locations across Jaipur, Sikar, Jhunjhunu and Ahmedabad in June 2025 under Section 17 of the PMLA. During those searches, the agency seized Rs 2.04 crore in cash along with incriminating records and digital devices. It also froze around Rs 15 crore lying in bank and cryptocurrency accounts linked to various Nexa Group entities and associates.
The money laundering investigation was initiated on the basis of multiple FIRs and chargesheets filed by the Rajasthan Police against the Nexa Evergreen Group in connection with an alleged large-scale investment fraud.
The ED said its investigation found that Bijnoriya and Ranveer Bijarniya, allegedly acting in concert with their associates, attracted investors by claiming that their money would be invested in land development and plotting projects at Dholera Smart City in Gujarat.
Investors were allegedly promised assured returns of 3 per cent per week for 60 weeks or allotment of plots. The scheme also offered additional commissions and incentives, including laptops, motorcycles and cars, for bringing in new investors through a multi-level referral model.
The agency described Bijnoriya as one of the principal architects and operators of the Nexa Evergreen Group, alleging that he and Ranveer Bijarniya exercised control over the entire operation.
According to the ED, the accused established and operated a network of companies, LLPs, partnership firms and proprietorship concerns in the names of associates and investors to layer and route the alleged proceeds of crime.
The entities and their bank accounts were allegedly used to collect investors’ money, transfer funds between accounts, pay returns to earlier investors in a manner characteristic of a Ponzi scheme and purchase immovable properties, thereby allegedly concealing the origin and ownership of the funds.
The investigation also found that the software platform, investor management system, banking operations, incorporation of entities and alleged diversion of funds were carried out under the accused persons’ directions, the agency said.
FOLLOW NOW
