ED Attaches 37 Properties Worth Rs 15.97 Crore In Apexa Group Investment Fraud Case
According to the ED, the attached assets include residential and agricultural properties located in the districts of Bundi, Baran, and Kota in Rajasthan.
Published : January 28, 2026 at 5:42 PM IST
Jaipur: The Enforcement Directorate (ED) has attached 37 properties worth approximately Rs 15.97 crore under the Prevention of Money Laundering Act (PMLA) in connection with an alleged investment fraud involving the Apexa Group. The attached properties are registered in the names of Murli Manohar Namdev, Durgashankar Merotha, Anil Kumar, Giriraj Nayak, Shobharani, and others.
According to the ED, the attached assets include residential and agricultural properties located in the districts of Bundi, Baran, and Kota in Rajasthan. In addition, one bank account linked to the Apexa Group has been frozen, which contains about Rs 1.50 crore.
The investigation was initiated by the ED following multiple FIRs registered by the Rajasthan Police against Namdev and others. As per the probe, the Apexa Group allegedly collected Rs 194.76 crore from a number of investors. ED shared this information in an official statement.
The investigation revealed that Namdev, along with his associates, allegedly orchestrated a fraudulent scheme under the banner of the Apexa Group. Investors were lured with promises of high returns in a short period. However, the ED found that the claims made by the accused had no credible financial backing or legitimate business foundation. The probe further revealed that there was no practical or substantial mechanism in place to generate such high returns.
Between 2012 and 2020, the accused allegedly paid investors only nominal returns to maintain trust. Instead of disbursing profits, investors were encouraged to reinvest their earnings with promises of even higher returns. During this period, the accused continued to rope in new investors to collect more money.
During the COVID-19 pandemic, investors started demanding the return of their principal amounts along with promised profits. The accused reportedly failed to repay the funds, which led to loss of trust and multiple complaints of cheating.
The investigation revealed that the accused purchased immovable properties and set up new business ventures with the money collected from the investors. The funds, in a way, were used for personal financial ambitions. Further investigation into the case is ongoing.
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