Two brothers orchestrated one of India's largest investment frauds, vanishing with $309 million after their housing scheme collapsed.

Subhash and Ranveer Bijarani built Nexa Evergreen around a simple lie: investors could make guaranteed returns by backing properties in the Dholera housing development. The brothers promised commissions for every person they recruited, paid them bonuses for hitting investment targets, and dangled prizes like laptops, bikes, and cars to keep the money flowing. About 70,000 people fell for it.

NDTV first reported the scheme on June 15th. What started as a real-estate pitch quickly transformed into a classic multi-level marketing pyramid. The Bijarani brothers offered escalating commissions to investors who brought in fresh recruits under their unique ID numbers. Each new layer of victims would fund payouts to those above them—until the whole structure inevitably collapsed.

The brothers didn't work alone. Six associates helped run the operation: Salim Khan, Sameer, Datar Singh, Rakshapal, Ompal, and Sanwarmal. Together, they funneled the stolen money into a sprawl of assets across India. They bought 1,300 bighas of land. They purchased luxury cars, mines, and hotels scattered throughout Rajasthan. They snapped up flats in Ahmedabad and 25 resorts across Goa. They extracted Rs 250 crore in cash and moved the remaining funds into 27 shell companies designed to obscure the money trail.

Then they closed every office and disappeared.

Indian authorities responded Thursday with raids across 25 locations, targeting money that had been laundered through Nexa Evergreen. But the investigation has stalled at a critical juncture. No arrests have been made. The Bijarani brothers and their associates remain at large, likely out of the country with access to the assets they'd already moved and hidden.

The scale of the theft speaks to how thoroughly the fraud was planned. Moving $309 million doesn't happen by accident. The shell companies, the property purchases, the cash withdrawals—all of it required coordination and time. Authorities now face the difficult work of tracking international assets and pursuing fugitives who had months to prepare their exit.

For the 70,000 victims, the money is almost certainly gone. Recovering assets hidden across multiple states and potentially multiple countries is a sluggish process that often yields only partial returns. The victims who invested their savings on promises of guaranteed returns learned an expensive lesson: if returns sound too good to be true, they are.

🤖 Quick Answer

What was the Nexa Evergreen fraud?
Nexa Evergreen was a Ponzi scheme orchestrated by brothers Subhash and Ranveer Bijarani in India. Disguised as a housing investment opportunity linked to the Dholera development project, it used a multi-level marketing structure offering guaranteed returns and recruitment-based commissions. Approximately 70,000 investors were defrauded before the scheme collapsed.

How much money did the Nexa Evergreen scammers steal?
The Bijarani brothers allegedly absconded with approximately $309 million in investor funds, making Nexa Evergreen one of the largest investment frauds in Indian history. The funds were collected through promised returns on property investments and recruitment bonuses within the scheme's pyramid structure.

How did the Nexa Evergreen scheme operate?
The scheme promised investors guaranteed

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