Pune: Ravet Man Wanted in Rs 88-Crore Investment Fraud Extradited From Dubai Three Years After FIR, Arrested

Pune, 25th July 2026: The Pune Police’s Economic Offences Wing (EOW) has arrested a man accused of cheating investors of Rs 88 crore after he was extradited from abroad. The accused was taken into custody upon his arrival at Mumbai airport.

The arrested accused has been identified as Avinash Arjun Rathod, a resident of Anandban Society in Ravet.

According to police, Avinash Rathod and his wife, Vishakha Rathod, had floated APS Wealth Ventures LLP in Baner and allegedly lured investors by promising unusually high returns on their investments.

Investigators said the couple initially paid returns to investors to gain their confidence but later stopped making payments. After failing to recover their money, investors approached the Chatushrungi police, following which an FIR was registered against the couple on April 20, 2023.

Soon after the case was registered, Avinash and Vishakha Rathod allegedly absconded. The EOW then initiated proceedings before a court to have the couple declared proclaimed offenders. After the court declared them absconders, police issued a Red Corner Notice, suspecting that they had fled the country. A chargesheet was subsequently filed against the couple before a special court.

During the investigation, police traced Avinash Rathod to Dubai and began efforts to secure his return to India through extradition.

Following his extradition, Rathod was arrested immediately after landing at Mumbai Airport and was produced before a court, which remanded him to 10 days of police custody.

Police said further investigation into the alleged Rs 88-crore investment fraud is underway.