The Enforcement Directorate’s Jaipur Zonal Office has provisionally attached 37 immovable properties and one movable property valued at Rs 15.97 crore under the Prevention of Money Laundering Act (PMLA) in connection with the Apexa Group fraud case. The attachment order was issued recently.
The attached properties include agricultural and residential land owned by individuals like Murli Manohar Namdev, Durga Shankar Merotha, Anil Kumar, Giriraj Nayak, Shobha Rani, and others. These properties are situated in Bundi, Baran, and Kota districts in Rajasthan.
Additionally, a bank account linked to the Apexa Group, containing funds amounting to Rs 1.50 crore, has been seized as part of the investigation. The ED’s probe was initiated based on FIRs filed by the Rajasthan Police against Namdev and others, alleging fraudulent investment schemes by the Apexa Group.
The investigation uncovered that Namdev and his associates orchestrated fraudulent schemes within the Apexa Group, promising high returns to investors without legitimate financial backing. The agency noted that the schemes were unsustainable and collapsed during the pandemic, causing significant losses to investors. Funds collected were diverted towards personal financial interests rather than legitimate returns.
