The Enforcement Directorate has arrested Subhash Chandra Bijnoriya in its investigation into an alleged ₹2,676 crore investment fraud linked to the Nexa Evergreen Group. The agency alleges that investors were lured with promises of high returns and plots through land development and plotting projects. Bijnoriya was arrested on August 10 under the Prevention of Money Laundering Act and subsequently produced before a Special PMLA Court in Jaipur, which remanded him to ED custody until August 13. The allegations remain under investigation and judicial scrutiny.
Rs 2,676 Crore Nexa Evergreen Fraud Probe Deepens as ED Arrests Subhash Chandra Bijnoriya
The Enforcement Directorate has arrested Subhash Chandra Bijnoriya in the Nexa Evergreen case, alleging he was involved in a Rs 2,676 crore investment fraud and money laundering racket.
The Directorate has arrested Subhash Chandra Bijnoriya in a money laundering case of Rs 2,676 crore involving money collected from many investors.
The arrest marks a significant development in the ED probe against Nexa Evergreen Group, where it was alleged that some investors were lured on the pretext of returns and allotment of properties.
ED Arrests Subhash Chandra Bijnoriya
He was arrested on August 10 under Section 19 of the Prevention of Money Laundering Act, 2002, based on an investigation into multiple FIRs and chargesheets filed by Rajasthan Police.
The agency said a large number of investors have been duped by Ranveer Bijarniya, Subhash Chandra Bijnoriya and their associates through the alleged investment operation to the tune of Rs 2,676 crore.
Bijnoriya, after his arrest, was produced before the Special PMLA Court in Jaipur and was remanded to the custody of the ED for four days till August 13.
He was arrested by the Jaipur zonal office of the Enforcement Directorate in connection with its ongoing probe into alleged wide-ranging investment frauds involving the Nexa Evergreen Group.
Subhash Chandra Bijarnia alias Bijnoriya was one of the main architects and operators of the Nexa Evergreen Group, the ED said.
The ED said its investigation revealed that Ranveer Bijarniya and Subhash Chandra Bijnoriya and their associates had allegedly lured investors on the pretext of using their money for land development and plotting projects.
Smart City in Gujarat, the agency said, adding that the investors were lured to participate with the promise of financial and property-related benefits. Investors were allegedly promised a guaranteed return of three per cent a week for 60 weeks or plots, with additional commissions and rewards for recruiting new members.
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Nexa Evergreen Investment Scheme Under Probe
The agency claimed that Bijnoriya was a significant player in the organization and operations of the agency, and both he and Ranveer Bijarniya had total control over the operation.
The ED probe also alleged that a web of companies, LLPs, partnership firms and proprietorship concerns were formed in the names of associates and investors.
The agency said these entities and their bank accounts were used to raise investor funds, transfer money between accounts and pay returns to earlier participants.
Money was also allegedly used to acquire immovable properties and hide the source and ownership of proceeds, the ED said, adding that the movement of funds was akin to a Ponzi-style arrangement.
The probe also found that software platforms, tools for managing investors, banking operations, incorporation of entities and an alleged diversion of funds were done on the directions of the main accused.
Searches, Seizures and Frozen Assets
The ED had earlier conducted searches at 25 places across Jaipur, Sikar, Jhunjhunu and Ahmedabad under Section 17 of the PMLA in June 2025.
The agency said it recovered cash of Rs 2.04 crore, apart from documents and digital devices, which it claimed as incriminating material related to the investigation during the searches.
The ED also said approximately Rs 15 crore held in bank accounts and cryptocurrency accounts linked to Nexa Group entities and associates was frozen during the investigation.
The latest arrest has further raised suspicion over the alleged financial architecture and the flow of investors’ money. The period of custody will give investigators more time for questioning and analysis of evidence.
The money laundering probe, along with other legal proceedings, will now proceed in the case. The allegations against the accused remain open to the judicial process.
Sprouts News will continue to track the developments as the Enforcement Directorate continues its probe and if any more arrests, asset actions, chargesheets or any court orders surface from the case.





















