A major development has emerged in the Apexa investment fraud case as India’s financial crime enforcement agency provisionally attached assets worth ₹15.97 crore. The action marks a key step in an investigation that spans nearly 10 years and involves thousands of investors who allegedly suffered losses due to misleading schemes run under the Apexa name.
In an order issued this week, the agency said its Jaipur zonal office attached 37 immovable properties and 1 movable asset under the Prevention of Money Laundering Act. The investigation revealed that funds collected through Apexa investment schemes were diverted into land purchases and private ventures instead of being used for legitimate income generation. The action follows multiple police complaints and a detailed financial trail linked to the Apexa Group.
According to the agency, Apexa promoted several investment schemes offering “exceptionally high returns” over short periods without any clear or credible business model. Between 2012 and 2020, Apexa allegedly continued collecting money by paying limited returns to some investors using funds from new investors or by convincing existing investors to reinvest their claimed earnings. Investigators said this approach created a false impression of profitability while hiding the absence of genuine revenue.
The Apexa schemes reportedly collapsed during the Covid 19 pandemic when many investors sought repayment of their principal and promised returns. Apexa, led by Murli Manohar Namdev and his associates, failed to meet these demands. The attached assets include agricultural and residential land in Bundi, Baran, and Kota districts of Rajasthan, registered in the names of Murli Manohar Namdev, Durga Shankar Merotha, Anil Kumar, Giriraj Nayak, Shobha Rani, and others. A bank account linked to Apexa containing ₹1.50 crore was also attached. The probe began after police cases alleged Apexa collected ₹194.76 crore from investors. Officials said the investigation is ongoing, with efforts underway to trace more assets linked to the Apexa fraud case.
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