Connect with us
Saturday,15-August-2026
Breaking News

Crime

Pune EOW extradites mastermind from UAE in Rs 88 crore investment scam

Published

on

Pune, July 25: The Economic Offences Wing (EOW) of Pune Police has extradited and arrested Avinash Arjun Rathod, the mastermind behind a Rs 88 crore investment fraud case, from the United Arab Emirates (UAE) after completing the required international legal procedures.

Rathod is accused of duping investors of nearly Rs 88 crore by luring them with promises of unusually high returns.

According to officials, Rathod had been absconding for a prolonged period, prompting investigating agencies to initiate legal proceedings at the international level.

A Red Corner Notice had been issued against him, following which he was traced and detained by authorities in the UAE.

After being brought back to India, Rathod was formally arrested by the Pune Police’s Economic Offences Wing at Mumbai International Airport before being taken to Pune.

He was subsequently produced before a court, which remanded him to 10 days of police custody for detailed interrogation.

Police said the case was originally registered at Chatushringi Police Station in Pune in 2023 under Crime No. 281/2023. The FIR invoked Sections 420 (cheating), 406 (criminal breach of trust), 409 (criminal breach of trust by public servant, banker, merchant or agent) and 34 of the Indian Penal Code, along with Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act.

The complaint was lodged on April 20, 2023, following which the investigation was transferred to the Economic Offences Wing of Pune City Police.

During the course of the investigation, police found that Avinash Arjun Rathod, director of Baner-based APS Wealth Ventures LLP, along with his wife, Vishakha Avinash Rathod, allegedly induced investors to deposit money by assuring them of attractive and high returns within a short period.

Although formal investment agreements were executed with investors, the promised returns were allegedly never paid and the invested amounts were not refunded.

According to investigators, the complainant alone had invested Rs 86,37,500 in the company, which was allegedly never returned. As the probe progressed, investigators found that the alleged fraud extended far beyond a single investor, with a large number of people being persuaded to invest in similar schemes. The total alleged fraud is estimated to be around Rs 88 crore.

Soon after the case was registered, Avinash Rathod and his wife allegedly absconded. Suspecting that the duo might flee abroad, the police initiated preventive measures and issued a Look Out Circular (LOC) against both accused on April 24, 2024, to prevent them from leaving the country or facilitate their arrest upon arrival in India.

Subsequently, the Special MPID Court at Shivajinagar in Pune issued Standing Arrest Warrants against both accused under Section 70 of the Code of Criminal Procedure (CrPC).

Proceedings under Section 82 of the CrPC to declare them Proclaimed Offenders were also initiated. Investigators later filed a chargesheet before the court, and the passports of both accused were suspended as part of the legal process.

Despite extensive searches conducted across the country, investigators were unable to trace the accused, prompting them to seek assistance from international agencies.

On June 4, 2026, a Red Corner Notice was issued against both Avinash Rathod and Vishakha Rathod. Acting on the notice, authorities in the UAE detained Avinash Rathod.

Officials said Rathod was extradited to India on July 23, 2026. Upon his arrival at Mumbai International Airport, he was formally arrested by the Pune Police’s Economic Offences Wing before being taken to Pune and produced before the court, which granted his custodial remand for 10 days.

The Economic Offences Wing has now intensified its investigation into the financial trail of the alleged fraud. Investigators are trying to ascertain how the approximately Rs 88 crore collected from investors was utilised, whether the money was diverted into properties or other assets, whether any funds were transferred abroad, and the extent of the involvement of other associates in the alleged network.

Officials believe that Rathod’s custodial interrogation could lead to significant disclosures regarding the alleged investment fraud, including details about the movement of funds and the wider network involved in the operation.

Pune Police also said efforts are underway on a priority basis to secure the return of the remaining accused, who are believed to be hiding abroad.

Investigators are maintaining close coordination with international agencies to complete the legal process for their extradition.

Crime

Messi proposed visit row: Kerala BJP demands CBI probe into alleged financial irregularities

Published

on

Thiruvananthapuram, Aug 14: The Bharatiya Janata Party (BJP) on Friday demanded a Central Bureau of Investigation (CBI) probe into the alleged Messi event fraud linked to Reporter TV and its owners, even as the former Finance Minister and CPI-M leader K.N. Balagopal refused to answer questions on alleged GST dues connected with the visit of football superstar Lionel Messi to Kerala in 2025, which failed to take place.

State BJP General Secretary S. Suresh demanded that the V.D. Satheesan government hand over the investigation to the CBI, saying that the controversy had international dimensions involving Argentina, Embassies, apart from alleged financial irregularities.

He alleged that the state government’s name had been misused in the proposed Messi event and called for a comprehensive probe into the financial transactions involved.

He also demanded a criminal case into the alleged GST evasion and said those found responsible should face legal action, including arrest wherever warranted.

Suresh also alleged that serious charges had surfaced against the previous LDF government and sought a probe into allegations of political protection being extended to those involved.

He warned the Satheesan government against entering into any political understanding with former Chief Minister Pinarayi Vijayan to suppress or delay the investigation.

The BJP leader also claimed that the alleged intermediary (sponsor) in the Messi event faced around 19 cases, including cheating cases, and demanded that the entire financial and international dimensions of the controversy be examined by Central agencies.

Meanwhile, Balagopal, who served as the Kerala Finance Minister from 2021 to 2026 and now sits in the Opposition front row alongside Vijayan, faced questions on the alleged non-payment of GST linked to the principal sponsor of the Messi event.

Known for his sharp responses on public finance during his ministerial tenure, Balagopal offered little on Friday.

He said he did not have any papers on the matter and suggested that officials might know more.

The response was particularly notable given Balagopal’s repeated criticism of the Centre over Kerala’s finances and devolution of funds while he was the Finance Minister.

Continue Reading

Crime

Assam Police seize drugs valued at Rs 39.4 crore; two held

Published

on

Guwahati, Aug 14: Drugs worth an estimated Rs 39.4 crore were seized in Guwahati after police intercepted a truck near the Inter-State Bus Terminal (ISBT), leading to the arrest of two persons, Assam Chief Minister Himanta Biswa Sarma said.

Taking to his official X account on Thursday, Sarma praised the Guwahati Police for the operation and said the seizure would help protect the younger generation from the growing threat of drug abuse.

“Mirror mirror on the wall, tell me how much drugs in all? Rs 39.4 crore!” the Chief Minister said in his X post, while highlighting the quantity of narcotics recovered during the operation.

According to the Chief Minister, the police intercepted a truck near the ISBT and recovered 10 soap cases containing heroin along with 1,40,000 YABA tablets.

YABA tablets, which commonly contain methamphetamine, are a synthetic drug associated with serious health and addiction risks.

The seizure represents a significant disruption to an alleged narcotics trafficking network operating through Assam.

Two accused persons were apprehended in connection with the seizure.

Police are expected to investigate the source of the consignment, its intended destination and the wider network involved in transporting the drugs.

The operation comes amid intensified efforts by Assam Police to curb the trafficking and distribution of narcotics in the state.

Assam has emerged as an important transit route for drugs because of its geographical location and proximity to international borders and neighbouring states.

Sarma, in his X post, credited the Guwahati Police for the “excellent” operation and described the seizure as an effort aimed at “saving the future of our youth”.

The recovery of such a large quantity of YABA tablets and heroin is likely to trigger further investigation into the movement of narcotics through Guwahati, which serves as a major transportation hub connecting Assam with other parts of the Northeast.

The police action also underscores the increasing focus on intercepting drug consignments before they reach their intended markets and preventing narcotics from reaching young people.

Further details about the identities of the arrested persons and the exact value and weight of the seized substances are awaited.

Continue Reading

Crime

NIA arrests accused in VHP leader Vikas Prabhakar murder case

Published

on

New Delhi, Aug 14: The National Investigation Agency (NIA) on Friday arrested another accused in connection with the targeted killing of Vishwa Hindu Parishad (VHP) leader Vikas Prabhakar in Punjab’s Nangal town.

The accused, identified as Manveer Ram alias Ashu, was intercepted by immigration authorities at Sri Guru Ram Dass Jee International Airport in Amritsar on Thursday based on a Look Out Circular (LOC) issued by the NIA. He was subsequently taken into custody by the agency and is expected to be produced before the Special NIA Court for further legal proceedings.

The case, registered as RC-06/2024/NIA/DLI, pertains to the murder of Vikas Prabhakar, a local VHP leader who was shot dead in April 2024. The NIA assumed charge of the investigation on May 9, 2024, and has since filed a chargesheet along with two supplementary chargesheets.

According to the agency, investigations have revealed that the conspiracy to assassinate Prabhakar was orchestrated by Germany-based operatives of the banned terror outfit Babbar Khalsa International (BKI). The key conspirators have been identified as Harjit Singh alias Laddi and Kulbeer Singh alias Sidhu.

The NIA said Manveer Ram played an important role in the conspiracy by arranging firearms intended for use in the killing. Operating from the United Arab Emirates (UAE), he acted as a key intermediary between the foreign-based handlers and individuals involved in procuring weapons and coordinating activities in India.

Investigators have found that his role extended to facilitating communication between the overseas conspirators and their associates in India, thereby helping to execute the planned attack.

The agency is continuing its probe into the broader conspiracy and is examining the involvement of other individuals linked to the case.

Earlier in 2024, a 22-year-old arms supplier, Dharminder Kumar, was arrested by a joint team of the Delhi Police Special Cell and the NIA in connection with the murder. A resident of Ludhiana, Kumar was allegedly involved in arranging weapons for the accused.

During questioning, Kumar reportedly disclosed that after being released from jail in April 2024, he came into contact through social media with an individual based in a Middle Eastern country who instructed him to procure firearms.

Vikas Prabhakar, the president of the VHP’s Nangal unit, was shot dead by unidentified assailants at his confectionery shop in Punjab’s Nangal town on April 13, 2024.

Continue Reading

Trending