ED arrests man in ₹89 crore APS Wealth Ventures fraud

It matters to citizens as it details a scheme where approximately 587 investors lost around Rs. 89 Crore.

Who it concerns: Avinash Arjun Rathod (accused), M/s APS Wealth Ventures LLP and associated entities, approximately 587 investors, the Directorate of Enforcement (ED), and the Hon’ble Special Court for PMLA cases, Mumbai.

What the ED says it did

• Avinash Arjun Rathod was arrested on 02.11.2026 under Section 19 of PMLA, 2002.
• The Hon’ble Special Court for PMLA cases, Mumbai granted ED custody of the accused until 04.11.2026.
• The investigation concerns the alleged diversion and laundering of proceeds of crime from fraudulent investment schemes run by M/s APS Wealth Ventures LLP and other entities.
• Investors were promised assured monthly returns of approximately 5% profit and 5% repayment of principal for 20 months.
• Approximately 587 investors invested around Rs. 157 Crore, of which around Rs. 89 Crore were allegedly not returned.
• Avinash Arjun Rathod held approximately 90% ownership in M/s APS Wealth Ventures LLP and controlled its day-to-day management and financial decisions.
• Funds were routed through multiple bank accounts of M/s APS Wealth Ventures LLP, M/s APS Smart Gain LLP, and other associated entities.
• Transactions involving Rathod's personal bank accounts, including transfers to individuals and investments in securities, are being examined.
• Rathod and his wife allegedly left India for Dubai in April 2023, where he allegedly offered similar returns under M/s Wealthpro Investment Consultant LLC.

Also in the document

• The initial FIR was registered by Chaturngi Police Station, Pune, and the case was later transferred to the Economic Offence Wing (EoW), Pune.
• ED is currently conducting custodial examination to trace the money trail, identify beneficiaries, and trace assets acquired from the proceeds of crime.