Ahmedabad: The Enforcement Directorate (ED) on Thursday conducted a major search operation across nearly 24 locations in Delhi, Rajasthan, and Gujarat in connection with a large-scale money laundering investigation linked to a real estate scheme named “Red Nexa Evergreen.” The alleged scam involves financial fraud amounting to ₹2,700 crore.

It is learnt that ED teams carried out searches in Jaipur, Jodhpur, Sikar, and Jhunjhunu districts of Rajasthan, as well as in Ahmedabad, Gujarat, and several locations in the national capital, Delhi. The action was carried out under the provisions of the Prevention of Money Laundering Act (PMLA).

The “Red Nexa Evergreen” scheme allegedly lured thousands of investors by promising them residential flats, plots of land, or high returns after a fixed period. However, investigations revealed that most of these promises were not fulfilled, and a massive financial fraud was perpetrated on the investors.

Rajasthan Police had earlier registered FIRs in the case and initiated preliminary investigations against several accused. The ED’s current search operation aims to trace the flow of money in the scam and identify the masterminds behind the fraudulent scheme.

According to reports, the company is accused of defrauding over 62,000 investors by promising residential plots and affordable flats, mainly in Dholera, Gujarat. In several cases, when land was unavailable, investors were offered attractive returns instead. While a few investors initially received plots, the project was later exposed as a large-scale scam, leaving most participants deceived.

Officials said the searches were triggered by serious concerns about money laundering. Once the search operation concludes, the agency is expected to take strict action against those found involved. More revelations related to the scam are likely to emerge in the coming days. DeshGujarat