ED files prosecution complaint in Rs 932.54 crore Nexa Evergreen investment case
The ED has filed a prosecution complaint in a Jaipur PMLA court in the Nexa Evergreen case, alleging that 47,664 investors got back Rs 932.54 crore less than they put in.
The Enforcement Directorate (ED) has filed a prosecution complaint against the main accused and other persons and entities in the Nexa Evergreen investment case, its Jaipur office said on 13 October 2026. The complaint was filed on 7 October 2026 before the Special Court (PMLA) in Jaipur. According to the ED, about Rs 2,676 crore was collected from investors between 2019 and 2023, and 47,664 investors received Rs 932.54 crore less than they had invested.
What Happened
A prosecution complaint is the ED's equivalent of a chargesheet under the Prevention of Money Laundering Act (PMLA). The ED began its probe on the basis of several FIRs and chargesheets filed by Rajasthan Police against the Nexa Evergreen Group.
The ED alleges that investors were falsely told their money would go into land and plotting projects at Dholera Smart City in Gujarat, with promised weekly returns of 3% for 60 weeks or allotment of plots. According to the ED, rewards such as laptops, motorcycles and cars were offered for enrolling new investors through a multi-level referral scheme. Payments stopped in January 2023, and the website, mobile app and offices were shut, the agency said.
The ED alleges that two persons controlled the operation and used a web of companies, LLPs and firms to collect funds, pay earlier investors in the manner of a Ponzi scheme and buy property. In June 2025, the ED searched 25 premises, seized Rs 2.05 crore in cash and froze Rs 15.31 crore. One accused was arrested on 10 August 2026 and is in judicial custody. On 6 October 2026, the ED provisionally attached 69 properties and 26 bank balances worth Rs 34.91 crore, which must be confirmed by the Adjudicating Authority. In all, assets of about Rs 52 crore have been seized, frozen or attached, the ED said.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
What It Means
The case will now proceed before the Special Court. The ED said further investigation is under way. Readers who come across schemes promising fixed weekly returns or rewards for recruiting others can report them on RBI's Sachet portal at https://sachet.rbi.org.in.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
Named in this report, or spotted an error? Corrections and responses: editor@oquilia.com. We correct errors promptly and record responses from named parties.
Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate