Pune, 25th July 2026: The Economic and Cyber Crime Branch of Pune Police has arrested Avinash Arjun Rathod, director of APS Wealth Ventures LLP, after he was extradited from the United Arab Emirates (UAE) in connection with an alleged ₹88 crore investment fraud. A court has remanded him to 10 days of police custody for further investigation.
The case stems from an FIR registered at Chaturshringi Police Station on April 20, 2023. Police have accused Rathod, his wife Vishakha Rathod, and their associates of cheating investors by promising unusually high returns through APS Wealth Ventures LLP, based in Baner.
According to investigators, the accused collected investments from multiple individuals but failed to honour the agreements and allegedly diverted the funds. The complainant alone is said to have lost ₹86.37 lakh, while the total alleged fraud involving all investors stands at nearly ₹88 crore.
After the case was registered, Avinash and Vishakha Rathod allegedly fled India. Police issued a Look Out Circular (LOC) against them in April 2024, while a special MPID court later issued arrest warrants and a proclamation. Investigators also filed a chargesheet and suspended the accused's passport.
A Red Corner Notice was issued against both accused on June 4, 2026. Acting on the notice, UAE authorities detained Avinash Rathod and extradited him to India on July 23, 2026. He was taken into custody by the Pune Police team upon his arrival at Mumbai airport and later produced before the court.
The Economic and Cyber Crime Branch said efforts are continuing to trace the remaining absconding accused, including Vishakha Rathod. Police said they are pursuing legal procedures to bring back all suspects who have fled abroad and complete the investigation.