नवीनतम
ED raids in Rajasthan, Gujarat in investors 'fraud' case
NEW DELHI [Maha Media]: The Enforcement Directorate on Thursday conducted searches in Rajasthan and Gujarat as part of a money laundering investigation into an alleged Rs 2,700 crore fraud with investors, official sources said.
The case filed under the Prevention of Money Laundering Act (PMLA) stems from a Rajasthan Police FIR against a company called Nexa Evergreen.
The company is alleged to have duped investors to the tune of Rs 2,700 crore by promising higher returns and plots of land in Dholera city of Gujarat, the sources said.
In Rajasthan, ED teams carried out operations in cities including Jaipur, Jodhpur, Sikar, and Jhunjhunu. Simultaneous raids were also conducted in Ahmedabad (Gujarat) and parts of Delhi. The crackdown is being executed under provisions of the Prevention of Money Laundering Act (PMLA). The Red Nexa Evergreen project reportedly lured investors with promises of high returns or property allocations — either flats, land, or premium rates after a fixed tenure.
Allegations suggest that a significant number of investors were duped in the process. Rajasthan Police had earlier registered an FIR against multiple individuals involved in the fraudulent scheme.The ED's investigation aims to uncover the financial trail and identify key beneficiaries of the scam. More details are expected to emerge as the search operations continue. Around 24 places are being raided in Rajasthan and Gujarat and Delhi. The investors in this project were lured to invest their money till a particular time and told that they can get plots and flats in return for their investments. However investors were duped as none of the promises were allegedly fulfilled.
In the end the frustrated investors filed many FIRs in this regard. The raids have been conducted keeping money laundering in mind, said officials. Once the search operation is done, action will be taken against those involved in the fraud. Rajasthan police were acting in the matter till now, however now that the ED has come into the picture, fresh facts are expected to come out soon in the case, said sources.
