Massive Rs 2,700 Crore Fraud Investigation: ED Cracks Down on Nexa Evergreen

The Enforcement Directorate is investigating an alleged Rs 2,700 crore fraud involving the company Nexa Evergreen. Officials conducted raids in Rajasthan and Gujarat as part of the probe under the Prevention of Money Laundering Act. Nexa Evergreen allegedly deceived investors with promises of high returns and land in Gujarat.

The Enforcement Directorate launched a series of searches across Rajasthan and Gujarat as they delve into a suspected Rs 2,700 crore fraud involving the company Nexa Evergreen. Official sources have revealed this is part of a money laundering investigation.

This extensive probe stems from an FIR filed by Rajasthan Police, citing violations under the Prevention of Money Laundering Act. The complaints center around claims that Nexa Evergreen lured investors with promises of lucrative returns and plots in Dholera city, Gujarat.

Raids are currently underway at approximately two dozen sites, spanning across the cities of Sikar, Jaipur, Jodhpur, and Jhunjhunu in Rajasthan, as well as Ahmedabad in Gujarat. This operation marks a significant move in unraveling the alleged financial misconduct.

(With inputs from agencies.)