Pune couple deported from UAE facing mega investment fraud

Pune city police now have custody of two fugitives wanted for running a multi-crore-rupee investment scam. Authorities deported Avinash Rathod and his wife Vishakha Rathod from United Arab Emirates within two weeks of each other. Officers arrested the duo following their separate arrivals on July 23 and this past Monday. Financial frauds of this scale frequently cross international borders, prompting Indian agencies to tighten their global extradition protocols.

Fleeing Justice And Interpol Intervention

Investigators say the Central Bureau of Investigation coordinated tightly with the Ministry of External Affairs and the Ministry of Home Affairs to bring the suspects back. Law enforcement had initially launched an investigation through the Economic Offences Wing in May and June of 2023. This early action led the central agency to secure Interpol red corner notices when they discovered the couple had fled Indian soil. Both suspects are currently being questioned by the EOW team to uncover further details.

Mechanics of Multi Crore Scam

Reports show the APS Wealth Ventures fraud case spanned five years between March 2018 and 2023. Police officials stated that the couple tricked hundreds of people by offering highly lucrative investment packages. Their company promised investors a 5 per cent profit on investments along with an additional 5 per cent of the principal amount every single month. They handed out post-dated cheques to convince people their money was completely secure.

Victims initially received the promised returns, which built a false sense of security and encouraged even more investments. Officers explained that the suspects eventually stopped these payments and cheated a large number of investors out of their life savings. The operation highlighted how Indian law enforcement agencies track down economic offenders hiding abroad. Police teams will now scrutinise bank accounts and financial records tied to the company. They aim to trace exactly where the stolen funds were diverted before the couple escaped to the Middle East.