ED Arrests Bijnoriya in ₹2,676 Crore Nexa Evergreen Money Laundering Case
The Enforcement Directorate arrested Subhash Chandra Bijnoriya, a key figure in the Nexa Evergreen Group, for his alleged role in a money laundering scheme. The group is accused of defrauding investors of ₹2,676 crore.
Key takeaways
- Subhash Chandra Bijnoriya was arrested by the Enforcement Directorate on August 10, 2026.
- The arrest is related to a money laundering investigation into the Nexa Evergreen Group.
- The group is accused of defrauding investors of ₹2,676 crore.
- Mr. Bijnoriya is identified as a principal architect and operator of the alleged fraudulent scheme.
- Assets including cash and frozen bank/crypto accounts totaling over ₹17 crore were previously seized.
The Enforcement Directorate (ED) has arrested Subhash Chandra Bijnoriya in connection with a money laundering investigation linked to the Nexa Evergreen Group. The group is accused of defrauding investors of ₹2,676 crore.
What Happened
The ED's Jaipur zonal office apprehended Mr. Bijnoriya on Monday, August 10, 2026. He is considered one of the principal architects and operators of the Nexa Evergreen Group. The agency accused Mr. Bijnoriya of operating a network of companies with associates and investors to conceal and move proceeds from alleged fraudulent activities. He was arrested under Section 19 of the Prevention of Money Laundering Act, 2002. A special PMLA court ordered his custody to the ED until August 13.
Background
The ED's investigation began following multiple first information reports and chargesheets filed by Rajasthan Police against Nexa Evergreen Group. The group allegedly lured investors with promises of 3% weekly returns for 60 weeks or allotment of plots. Investors were also incentivized with commissions and rewards for recruiting new members, indicating a multi-level referral scheme. The ED stated that the collected funds were used for inter-account transfers, payments to existing investors in a manner akin to a Ponzi scheme, and acquiring immovable properties, all while obscuring the origin and ownership of the money.
In June 2025, the ED conducted searches at 25 locations across Jaipur, Sikar, Jhunjhunu, and Ahmedabad. These searches led to the seizure of ₹2.04 crore in cash, along with incriminating documents and digital devices. Additionally, ₹15 crore held in bank and crypto accounts associated with Nexa Group entities and their associates were frozen.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
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