Rs 27000000000 scam: How two brothers from Rajasthan conned 70000 people in name of…
Dholera Smart City Scam: Subhash Bijarani and Ranveer Bijarani, two conmen, brothers, from a small town in Rajasthan, are accused of duping more than 70,000 people of a whopping Rs 2676 crores in what is being called India’s biggest real estate scam. According to the authorities, the Bijarani brothers, conned people by luring them to invest in the ‘Dholera Smart City project’.
As per details, the Bijaranis, both residents of Rajasthan’s Sikar district, established a firm named Nexa Evergreen, and used it to lure investors on the pretext of significantly higher returns and plots of prime land in ‘Dholera Smart City’ in Gujarat. The brothers are also accused of defrauding investors by showing them images of various projects in Dholera city.
Their ponzi scheme also involved concepts like level income and commissions and rewards for referring others, with percentages varying by levels and rewards such as laptops, two-wheelers, and cars for achieving investment milestones, and also enticed investors with bonus commissions for recruiting other investors under their unique ID, according to officials.
What is the Dholera Smart City Scam?
According to officials, the Ranveer Bijarani bought a piece of land in Dholera in 2014, and his brother Subhash Bijarani, a retired Army man, also purchased a plot for Rs 30 lakh in the city after his retirement. In 2021, the Bijarani brother registered Nexa Evergreen in Ahmedabad, which claimed to be a part of the so-called ‘Dholera Smart City’ project.
The brothers claimed that they owned 1,300 bighas in Dholera, which will we transformed into a smart city under the fictitious project, and lured more than 70,000 investors with promises of high returns, posh flats, and unbelievable investment schemes.
Ranveer and Subhash raised about Rs 2,676 crore from investors across the country, and used their top officials including Salim Khan, Sameer, Datar Singh, Rakshapal, Ompal, and Sanwarmal, to recruit thousands of agents in Rajasthan, who received massive commissions for bringing in investors.
As per authorities, the Bijaranis distributed a whopping Rs 1,500 crore in commissions to agents, and also purchased 1,300 bighas of land with the fraudulently acquired investments.
Police file FIR, ED conducts raids
The two brothers stashed Rs 250 crore in cash, and transferred the rest to 27 shell companies before shutting their offices and fleeing when the fraud came to light. The duo had also purchased several luxury cars, mines and hotels in Rajasthan, flats in Ahmedabad and 25 resorts in Goa.
Later, the police in Rajasthan’s Jodhpur filed a case in the matter and launched a probe. On Thursday, the Enforcement Directorate (ED) raided as many as 25 locations linked to the Bijarani brothers in Jaipur, Sikar, Jhunjhunu and Ahmedabad in connection with a money laundering case it has registered in the Nexa Evergreen fraud.
Is there a ‘real’ Dholera Smart City Project?
Yes, there is an actual Dholera Smart City, which will be India’s first greenfield smart city, and measures a whopping 920 sq km, about twice the size of Delhi.
The Dholera Smart City project is a joint project between the Central and Gujarat governments, and is expected to completed by the year 2042.
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