ED arrests Subhash Chandra Bijnoriya in ₹2,676cr Nexa Evergreen fraud
Subhash Chandra Bijnoriya, a key player in the massive ₹2,676 crore Nexa Evergreen land fraud, was arrested by the Enforcement Directorate (ED) this week.
He will be in ED custody until August 13, as investigators dig deeper into how the scam worked.
Bijnoriya scheme promised 3% weekly returns
Bijnoriya and co-accused Ranveer Bijarniya allegedly promised people 3% weekly returns for over a year or land plots in Gujarat's Dholera Smart City, offers that sounded too good to be true.
They floated and operated a web of companies to move money around and even offered additional commissions and rewards, including laptops, motorcycles, and cars, to attract more investors.
Last year, the ED raided 25 spots across Rajasthan and Gujarat, seizing cash amounting to ₹2.04 crore and freezing ₹15 crore in bank and crypto accounts linked to their network.