ED arrests Bijnoriya in Nexa Evergreen money laundering case
The Enforcement Directorate has arrested Subhash Chandra Bijnoriya for his role in the Nexa Evergreen money laundering case involving a ₹2,676 crore fraud. The scheme allegedly operated as a Ponzi operation, luring investors with promises of high returns and rewards for recruitment.
Why it matters
The case highlights the ongoing crackdown on large-scale financial fraud and Ponzi schemes in India that target retail investors through multi-level marketing tactics.
The Jaipur zonal office of the Enforcement Directorate (ED) has arrested an accused, Subhash Chandra Bijnoriya, in connection with a money laundering investigation related to the alleged fraud case against Nexa Evergreen, in which ₹2,676 crore were collected from a large number of investors.
Mr. Bijnoriya, one of the principal architects and operators of Nexa Evergreen Group, has been accused of carrying out fraudulent operations along with another partner in the firm. The two accused allegedly floated and operated a web of companies and proprietorship concerns in the names of associates and investors for layering and routing the proceeds of crime.
The ED arrested Mr. Bijnoriya under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, on Monday (August 10, 2026) and produced him in a PMLA special court here, which remanded him to the custody of the financial investigation agency till August 13.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in