Pune: Archana Kute Arrested After Cheating Over 4,000 Depositors Of ₹2,470 Crore In Gyanradha Scam Case
Pune: Archana Kute Arrested After Cheating Over 4,000 Depositors Of ₹2,470 Crore In Gyanradha Scam Case
Pune, September 17, 2025: In a major breakthrough, the CID has arrested Archana Suresh Kute, director of Gyanradha Multi-State Co-operative Credit Society, in connection with a massive depositors’ fraud involving more than 4,000 investors. She had been absconding for nearly one and a half years before being apprehended in Baner, Pune. The scam amounts to around ₹2,470 crore.
Earlier, CID had already arrested the society’s chairman, Suresh Kute, who is Archana’s husband. Another accused, Asha Padmakar Patodekar (Patil), has also been booked. A total of 95 cases have been registered against the board of directors.
The seized assets from Archana Kute include gold worth ₹80.9 lakh (60 pieces), silver worth ₹56.75 lakh (270 items), cash of ₹63 lakh, and vehicles including a BMW scooter—altogether valued at over ₹2.1 crore. Meanwhile, the Enforcement Directorate (ED) has already attached assets worth ₹333 crore belonging to Suresh Kute and other accused.
Investigations revealed that the Kute Group, through the society, collected deposits exceeding several crores from many investors across Beed, Jalna, and Chhatrapati Sambhajinagar. Following tax raids on the Kute Group last year, large-scale irregularities and tax evasion came to light. Depositors began facing difficulties in withdrawing their money, while the group allegedly misled them by claiming loans had been sanctioned and funds would be repaid—yet not a single rupee was returned.
The CID’s Chhatrapati Sambhajinagar division is probing the 95 registered cases, while the Economic Offences Wing (EOW) of Beed is investigating under the MPID Act. A total of 207 properties linked to the accused have been identified for further action. Out of 13 directors, 9, including prime accused Suresh Kute and his wife Archana, are now under arrest.
The operation was carried out under the supervision of Additional DGP Sunil Ramanand and DIG Amol Gavkar, with teams led by Additional SP Kiran Patil, DySP Swati Thorat, and PI Vijay Panade.
Chief Minister Devendra Fadnavis had earlier reviewed the matter in the Assembly, expressing strong displeasure over the slow pace of investigation. He directed authorities to expedite the seizure of 238 identified properties of the society under the Multi-State Co-operative Societies regulatory framework.
