New Delhi, July 25: In a significant breakthrough against economic offences, the Central Bureau of Investigation (CBI), working in close coordination with the Ministry of External Affairs (MEA), the Ministry of Home Affairs (MHA), and authorities in the United Arab Emirates (UAE), has secured the deportation of Avinash Arjun Rathod, a fugitive wanted in one of Maharashtra’s biggest alleged investment fraud cases.
Rathod, who was the subject of an INTERPOL Red Notice, landed in Mumbai on July 23, 2026, where he was immediately detained by the Maharashtra Police. His return marks the culmination of years of international coordination aimed at bringing the accused back to India to face criminal proceedings.
Authorities describe the operation as another example of India’s expanding ability to track down and repatriate economic offenders who flee abroad after allegedly committing large scale financial crimes.
Alleged Mastermind Behind APS Wealth Ventures Scam
Investigators allege Rathod orchestrated a sophisticated investment racket through APS Wealth Ventures, a Pune-based firm established in 2011. The company reportedly projected itself as a legitimate stock market investment platform, attracting thousands of investors by offering unusually high and fixed monthly returns.
According to the investigation, the firm assured investors that their investments would generate guaranteed profits and, in several cases, even double within approximately 20 months. Such promises attracted a wide range of investors, including salaried employees, government officials, professionals, retirees, and middle class families across Pune, Mumbai, Vidarbha, and other parts of Maharashtra.
Officials believe the company collected investments ranging from a few lakh rupees to more than ₹1 crore from individual investors, with many people reportedly investing their life savings in the schemes.
Ponzi-Style Model Allegedly Used to Gain Confidence
Investigators say the operation allegedly followed a classic Ponzi-style structure in its early stages. Initial investors reportedly received timely returns, which strengthened confidence in the company and encouraged them to introduce friends, relatives, and colleagues to the investment plans.
As new money continued flowing into the company, the network expanded rapidly. Authorities allege that investor funds were diverted through multiple bank accounts and demat accounts rather than being invested in genuine market instruments as promised.
This strategy allegedly enabled the accused to maintain the appearance of a profitable investment enterprise while masking the true financial condition of the operation.
Collapse of the Investment Scheme
The alleged fraud began unraveling in early 2023 when investors sought to withdraw their money.
According to the investigation, Rathod informed investors in March 2023 that he was facing health-related issues and requested additional time until April 10 to process repayments.
During this period, his wife, Vishakha Rathod, reportedly managed communications with investors and handled operations at the company’s office.
However, when the promised repayment date arrived, both Avinash and Vishakha Rathod had allegedly disappeared. Investors later discovered that the offices had shut down and the couple had left India for Dubai, leaving behind hundreds of people struggling to recover their investments.
Massive Investor Losses Under Investigation
The disappearance triggered numerous complaints from affected investors, prompting the Economic Offences Wing of Pune Police to launch an extensive investigation.
A First Information Report (FIR) was registered at Chaturshringi Police Station, after which investigators began examining financial records, investor transactions, and banking trails linked to the company.
Preliminary findings indicate that more than 600 investors suffered losses estimated at around ₹125 crore. Investigators believe the total financial exposure across all investment schemes operated over several years could eventually exceed ₹700 crore, making it one of the state’s largest alleged investment scams.
Authorities continue to verify additional claims as more affected investors come forward.
International Hunt Leads to Deportation
Following the registration of criminal cases, a non-bailable warrant was issued against Rathod.
Indian agencies subsequently approached INTERPOL, leading to the issuance of a Red Notice that alerted law enforcement agencies worldwide about the fugitive’s status.
Officials said sustained diplomatic engagement by the Ministry of External Affairs, coordination by the Ministry of Home Affairs, and continuous follow-up by the CBI played a crucial role in securing cooperation from UAE authorities.
These coordinated efforts ultimately resulted in Rathod’s deportation to India, where he now faces further legal proceedings.
Custody and Further Investigation
After arriving in Mumbai, Rathod was taken into custody by the Maharashtra Police and is expected to be produced before the appropriate court as part of the ongoing legal process.
Investigators are expected to focus on tracing the movement of investor funds, identifying additional individuals who may have participated in the alleged conspiracy, and locating assets that could potentially be attached or recovered for the benefit of affected investors.
Financial investigators are also examining whether proceeds from the alleged fraud were transferred through multiple financial channels or invested in assets both within India and overseas.
Warning Against Unrealistic Investment Promises
The case has once again highlighted the dangers posed by fraudulent investment schemes that lure individuals with promises of guaranteed, high-value returns.
Financial experts have repeatedly cautioned that legitimate market linked investments are subject to risk and do not guarantee fixed returns over extended periods. Authorities advise investors to verify the regulatory status of investment firms, conduct independent due diligence, and remain cautious of schemes promising exceptionally high or assured profits.
The APS Wealth Ventures investigation continues as enforcement agencies work to establish the full extent of the alleged fraud and pursue recovery of assets for affected investors.