Did the ED Conduct Raids in Delhi, Rajasthan, and Gujarat Over ₹2,700 Crore Money Laundering Linked to a Real Estate Scheme?
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Synopsis
In a significant move, the ED has launched extensive raids across Delhi, Rajasthan, and Gujarat in connection with a ₹2,700 crore money laundering case tied to the Red Nexa Evergreen real estate scheme. With multiple locations targeted, the operation aims to uncover the depths of this financial fraud and provide justice to the duped investors.
Key Takeaways
- The ED conducted raids at 24 locations linked to a ₹2,700 crore money laundering case.
- The investigation targets the Red Nexa Evergreen real estate project.
- Numerous investors were allegedly defrauded by false promises of property allocations.
- The operation is being executed under the Prevention of Money Laundering Act.
- Further developments are expected as the investigation unfolds.
Jaipur, June 12 (NationPress) The Enforcement Directorate (ED) initiated a significant operation on Thursday in relation to a ₹2,700 crore money laundering investigation tied to a real estate project. The ED executed raids at nearly 24 locations throughout Delhi, Rajasthan, and Gujarat.
As per sources within the agency, this ongoing inquiry is associated with a large-scale financial scam involving a real estate initiative called Red Nexa Evergreen.
In Rajasthan, ED teams targeted cities such as Jaipur, Jodhpur, Sikar, and Jhunjhunu.
Simultaneous operations were also carried out in Ahmedabad (Gujarat) and certain areas of Delhi. This operation is being conducted under the Prevention of Money Laundering Act (PMLA).
The Red Nexa Evergreen project reportedly attracted investors with enticing promises of high returns or property allocations — including flats, land, or premium rates after a specified duration.
Allegations indicate that a considerable number of investors fell victim to this scheme.
The Rajasthan Police had previously filed an FIR against several individuals involved in this fraudulent operation.
The ED's investigation seeks to trace the financial pathways and identify the major beneficiaries of the scam. Further updates are anticipated as the search efforts progress. Around 24 locations are being investigated in Rajasthan, Gujarat, and Delhi.
Investors in this initiative were persuaded to invest their funds for a specific period, with the expectation of receiving plots and flats in return.
However, investors were allegedly deceived as none of the commitments were fulfilled.
Ultimately, frustrated investors lodged multiple FIRs regarding the situation.
The raids were conducted with money laundering in focus, as stated by officials.
Once the search is completed, action will be initiated against those implicated in the fraud.
While Rajasthan Police had been managing the case until now, the involvement of the ED is expected to reveal new facts soon, according to sources.
Point of View
I emphasize that this investigation showcases the government's commitment to combating financial fraud. The ED's proactive approach not only aims to bring justice for the victims but also serves as a warning to potential fraudsters. It is imperative that we ensure transparency and accountability in financial dealings to protect the interests of the public.
NationPress
14/06/2025
Frequently Asked Questions
What triggered the ED's raids?
The ED's raids were triggered by allegations of a significant money laundering scheme involving the Red Nexa Evergreen real estate project, which reportedly defrauded investors.
How many locations were raided?
Approximately 24 locations across Delhi, Rajasthan, and Gujarat were raided during the operation.
What is the estimated amount involved in this case?
The estimated amount involved in the money laundering case is ₹2,700 crore.
What actions are expected to follow the raids?
Following the raids, the ED is expected to take action against those involved in the fraud, based on the evidence collected during the search operations.
What was promised to investors in the real estate scheme?
Investors were promised high returns or property allocations such as flats or land after a specific investment period.
