ED Arrests APS Wealth Promoter Avinash Rathod In ₹157-Crore Investment Fraud ; 587 Investors Allegedly Cheated

Mumbai: The Enforcement Directorate (ED) has apprehended Avinash Arjun Rathod, the mastermind behind APS Wealth Ventures LLP, amidst a reported Rs 157-crore investment scam that allegedly defrauded 587 investors. A Mumbai Special PMLA Court has granted ED custody over Rathod until November 4 for a deeper probe into the alleged money laundering and proceeds of crime diversion.

The arrest follows a series of actions by the Pune Police and the Central Bureau of Investigation (CBI), who had previously deported Rathod from the UAE where he had sought refuge after fleeing India. Rathod fled to Dubai in April 2023, followed by an Interpol Red Notice in June 2026, leading to his deportation from the UAE on July 23, 2026.

He was subsequently handed over to the Maharashtra Police and arrested by the Pune Police's Economic Offences Wing, who obtained custody from them. The ED initiated its probe based on a complaint registered at Chaturshringi police station in Pune in April 2023 by investors who were allegedly lured into depositing money in entities managed by Rathod, including APS Wealth Ventures LLP, on the promise of a guaranteed monthly return.

The allegations claim investors were misled into investing a total of approximately Rs 157 crore across 587 accounts, with the ED stating that about Rs 89 crore remains unpaid. The investigation reveals that Rathod controlled 90% of APS Wealth Ventures LLP, managing its operations and financial decisions, including bank account operations.

The ED's examination also sheds light on transactions involving Rathod's personal accounts, with outward transfers to various individuals and securities investments, to trace the flow of funds and identify beneficiaries. The agency is also investigating Rathod's alleged overseas investment schemes through Wealthpro Investment Consultant LLC, a Dubai-based entity, to ascertain if these funds were linked to the scam and if any proceeds were transferred or laundered abroad.

The ED's ongoing efforts aim to trace the complete money trail, identify the recipients of the alleged proceeds, and identify other entities involved in the laundering network.