The Enforcement Directorate (ED) has arrested Avinash Arjun Rathod, the alleged key promoter of APS Wealth Ventures LLP, in connection with an investment scheme under investigation for suspected money laundering and non-payment of approximately ₹89 crore to investors.
According to the supplied report, Rathod was arrested on November 2, 2026, under the Prevention of Money Laundering Act (PMLA). A special court in Mumbai remanded him to ED custody until November 4 to facilitate questioning and examination of the financial transactions linked to the scheme.
The investigation centres on allegations that funds collected from hundreds of investors through assured-return arrangements were diverted instead of being repaid as promised.
Police Complaint Led to Money Laundering Investigation
The case originated from a First Information Report registered at Chaturshrungi police station in Pune against Rathod and his associates. The complaint alleged that investors were persuaded to place their savings with APS Wealth Ventures LLP and related entities after being promised regular and attractive returns.
The matter was subsequently referred to the Economic Offences Wing (EOW) in Pune for investigation into the suspected financial irregularities. The ED initiated a separate money laundering probe to examine the alleged proceeds of crime, trace the movement of funds and identify assets that may have been acquired using investors’ money.
Nearly 587 Investors Reportedly Deposited ₹157 Crore
The investment arrangements reportedly offered depositors a monthly return of approximately 5% as profit, along with repayment of an additional 5% of their principal every month over a 20-month period.
These assurances allegedly attracted around 587 investors, who collectively deposited approximately ₹157 crore into the schemes.
However, the report states that nearly ₹89 crore remained unpaid. Investigators are examining how the money was used and why the promised payments were allegedly not made to investors.
The difference between the reported amount collected and the outstanding amount is significant to the investigation, as authorities seek to establish the actual flow of funds and determine whether the money was diverted for purposes unrelated to the stated investment arrangements.
ED Examines Transfers Through Multiple Bank Accounts
Investigators are reportedly examining the ownership structure and financial operations of APS Wealth Ventures LLP. According to the report, Rathod held approximately 90% ownership in the firm and exercised substantial control over its day-to-day operations, major financial decisions and banking activities.
The agency has reportedly identified transfers involving bank accounts maintained by APS Wealth Ventures LLP and associated entities, including APS Smart Gain LLP. The transactions under scrutiny also include transfers to Rathod’s personal bank accounts and payments involving other individuals.
Investigators are analysing financial statements, bank records and securities-related transactions to identify the ultimate recipients of the money. The inquiry is intended to establish whether the funds were moved through multiple entities or individuals before reaching their final destinations.
Dubai Operations Also Under Investigation
The investigation has reportedly expanded to examine possible overseas financial links. The supplied report states that Rathod and his wife travelled to Dubai in April 2023.
The ED is also examining allegations that Rathod established a similar assured-return investment arrangement in Dubai through Wealthpro Investment Consultant LLC, an overseas company reportedly owned by him.
One of the key questions for investigators is whether funds collected from Indian investors were transferred abroad to finance the Dubai operations. The agency is reviewing the overseas company's ownership details and financial records to determine whether any connection exists between the Indian investment collections and the foreign business activities.
Asset Tracing and Financial Records Under Scrutiny
The ED's investigation is focused on reconstructing the complete transaction trail, identifying the alleged beneficiaries and locating assets that may be linked to the suspected proceeds of crime.
Investigators are examining corporate relationships, bank ledgers and transactions involving people associated with Rathod. The agency is also looking into whether funds were transferred through connected entities before being invested, withdrawn or used for other purposes.
The case highlights the importance of examining investment structures, promised returns and the movement of funds when assessing potential financial irregularities. Businesses and investors can also refer to Shunyatax's financial investigation services for information on financial scrutiny and transaction-related concerns.
The investigation remains ongoing. The allegations against Rathod and other individuals will need to be established through the legal process, and an arrest or custodial remand does not by itself establish guilt.