The Enforcement Directorate (ED) has launched a major crackdown in a suspected real estate scam linked to a money laundering case worth INR 2700 crore. In particular, as part of the operation, ED raids 24 places across Delhi, Gujarat, and Rajasthan under the Prevention of Money Laundering Act (PMLA). Moreover, this coordinated action marks one of the biggest moves by the ED this year against financial fraud in the real estate sector.
The case is centred around a real estate company named Red Nexa Evergreen, which allegedly lured thousands of investors by offering attractive returns. People were promised plots, flats, or premium payouts, but most ended up with neither property nor refunds, leading to widespread complaints and legal action.
Raids Across Delhi, Gujarat, and Rajasthan
The ED’s action was based on FIRs filed earlier by the Rajasthan Police against the company and its directors. These raids were aimed at gathering evidence, seizing assets, and tracking the flow of illicit money.
- In Rajasthan, the raids were conducted in Jaipur, Jodhpur, Sikar, and Jhunjhunu.
- In Gujarat, teams searched multiple properties in Ahmedabad.
- In Delhi, various locations linked to the accused individuals were covered.
The real estate scheme reportedly collected large sums from people, promising high returns but failing to deliver any property or a refund. The ED suspects that these funds were diverted to various shell companies and used for personal gain.
During the search operations, financial documents, digital records, and property details were seized. Officials are now analysing these materials to uncover the full extent of the fraud and trace beneficiaries.
Focus on Money Trail and Legal Action
The ED is now focusing on tracing the money trail and identifying assets purchased using illegal funds. The investigation is likely to lead to:
- Attachment of properties linked to the accused.
- Summons or arrests of key individuals once evidence is verified.
- Court proceedings under the PMLA, based on findings from the raids.
The Red Nexa Evergreen case is being treated as a serious example of organised financial fraud. Authorities are working to ensure that investors who lost their savings receive justice.
For official updates and further developments, visit the Enforcement Directorate’s website.
Summary
The ED, therefore, raids 24 places in connection with an INR 2700 crore money laundering case tied to a real estate scam by Red Nexa Evergreen
- Action taken under PMLA across Delhi, Gujarat, and Rajasthan
- Focus on seizing evidence, freezing assets, and tracing fraud money
- ED continues to investigate and may initiate legal proceedings soon
