Pune Police Bring Back ₹88 Crore Investment Fraud Accused From Dubai
Pune Police Bring Back ₹88 Crore Investment Fraud Accused From Dubai
Pune, July 25, 2026: In a major breakthrough, Pune Police have successfully secured the extradition of a key accused in an alleged ₹88 crore investment fraud who had fled to Dubai after duping investors with promises of high returns. The accused was brought back to India after nearly three years and has been remanded to 10 days of police custody for further investigation.
The accused, identified as Avinash Arjun Rathod, a resident of Anandban Society in Ravet and originally from Yavatmal district, was extradited by the United Arab Emirates (UAE) government. He arrived at Mumbai Airport on an Air India flight, where Pune Police took him into custody and formally arrested him.
According to the investigation, Rathod had established APS Wealth Ventures LLP and allegedly lured investors by promising unusually high returns on their investments. One complainant alone invested ₹86.37 lakh, while the total amount allegedly defrauded from multiple investors is estimated at ₹88 crore.
Police said Rathod and his wife, Vishakha Avinash Rathod, allegedly shut down the company and fled abroad after collecting money from investors. A case was registered at Chaturshringi Police Station in 2023 under the Maharashtra Protection of Interest of Depositors (MPID) Act, and the probe was later transferred to the Economic Offences Wing (EOW).
A Look Out Circular (LOC) was issued against both accused on April 24, 2024, and the Shivajinagar Court subsequently declared them absconders. The court also accepted the chargesheet filed in the case, while Rathod’s passport was suspended during the investigation.
On June 4, 2026, Interpol issued a Red Corner Notice against the couple. Following sustained coordination between the Government of India and UAE authorities, Rathod was extradited to India.
He was produced before a Pune court, which granted 10 days of police custody to facilitate further investigation.
Police officials said efforts are ongoing to trace and extradite the remaining accused in the case, who are believed to have fled overseas. Legal procedures are underway to bring them back to India and complete the investigation.
