The Enforcement Directorate (ED) has arrested Subhash Chandra Bijnoriya, a key accused in the ₹2,676 crore Nexa Evergreen land investment fraud, from Jaipur on Monday, 11 August 2025. A Special Court (PMLA) in Jaipur subsequently remanded him to ED custody until 13 August for further questioning in the money laundering case.

The Arrest and Custody

The ED Jaipur Zonal Office detained Bijnoriya — also known as Subhash Chandra Bijarniya — under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. After his arrest, he was produced before the Special Court (PMLA), Jaipur, which granted ED remand through 13 August. Investigators say he is one of the principal architects of the Nexa Evergreen Group's fraudulent operation, exercising complete control over its finances alongside co-accused Ranveer Bijarniya.

How the Fraud Operated

According to the ED, the accused lured investors by falsely claiming that funds would be channelled into land development and plotting projects at Dholera Smart City, Gujarat. Investors were promised assured weekly returns of 3 per cent for 60 weeks or allotment of plots. To accelerate recruitment, the scheme offered additional commissions and rewards — including laptops, motorcycles, and cars — for enrolling new investors under a multi-level referral structure, characteristic of a Ponzi operation.

In total, ₹2,676 crore was collected from a large number of investors by Ranveer Bijarniya, Subhash Chandra Bijnoriya, and their associates, the agency said.

Web of Entities Used for Layering

ED investigators found that the accused floated and operated a web of companies, LLPs, partnership firms, and proprietorship concerns registered in the names of associates and investors. These entities and their bank accounts were systematically used to collect investor funds, execute inter-account transfers, pay returns to earlier investors — in the classic Ponzi fashion — and acquire immovable properties, thereby concealing the true source and ownership of funds.

The investigation further revealed that the software platform, investor management systems, banking operations, incorporation of entities, and diversion of funds were all carried out under the direct directions of the two principal accused.

Earlier Searches and Seizures

The ED had conducted searches under Section 17 of the PMLA in June 2025 at 25 locations across Jaipur, Sikar, Jhunjhunu, and Ahmedabad. Those searches yielded a seizure of cash amounting to ₹2.04 crore, along with incriminating records and digital devices. Additionally, ₹15 crore lying in bank accounts and crypto accounts linked to various Nexa Group entities and associates was frozen at that time.

Background and Ongoing Investigation

The ED initiated its investigation based on multiple FIRs and chargesheets filed by Rajasthan Police against the Nexa Evergreen Group in connection with the large-scale investment fraud. This comes amid a broader national crackdown on Ponzi and multi-level marketing schemes that have defrauded retail investors across Rajasthan and Gujarat. The arrest of Bijnoriya signals that the agency is moving up the chain of command in the case. Further arrests and asset attachments are likely as the investigation progresses.