ED arrests Avinash Rathod in APS Wealth Ventures money laundering case

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Highlights

The Enforcement Directorate arrested Avinash Arjun Rathod in a PMLA case on 02.11.2026 and remanded him to custody until 04.11.2026.
According to the ED, funds raised from investors through M/s APS Wealth Ventures LLP and associated entities were transferred extensively between accounts and allegedly laundered.
Rathod and his wife moved to Dubai in April 2023, where an investigation is also underway into similar investment schemes operated through M/s Wealthpro Investment Consultant LLC.

This article was translated from the original. Read the original version by our correspondent here.

Investment Scheme Probe and Custody Timeline

According to the Enforcement Directorate, its Mumbai Zonal Office arrested Avinash Arjun Rathod on 02.11.2026 under Section 19 of the PMLA, 2002. The agency says the investigation concerns the alleged diversion and laundering of proceeds of crime generated through purported fraudulent investment schemes operated in the name of M/s APS Wealth Ventures LLP and other associated entities.

A special court for PMLA cases in Mumbai remanded the accused to ED custody until 04.11.2026 for further investigation. The ED investigation began on the basis of an FIR registered at Chaturshringi Police Station in Pune, which was later transferred to the Economic Offences Wing in Pune.

According to the investigating agency, investors were induced to invest by promises of returns of approximately 5% per month and payment of 5% of the principal for up to 20 months. The ED alleges that Rathod held an approximately 90% stake in M/s APS Wealth Ventures LLP and controlled its day-to-day management, operation of bank accounts and financial decisions.

Fund Flows, Dubai Link and Wider Impact

The investigation has also found that funds raised from investors were routed through multiple bank accounts belonging to M/s APS Wealth Ventures LLP, M/s APS Smart Gain LLP and other associated entities. Analysis of bank accounts and financial records indicates large-scale transfers between accounts and the movement of funds through various banking channels.

The ED has also identified transactions involving Avinash Arjun Rathod’s personal bank accounts, including transfers to various individuals and investments in securities. The agency is investigating these transactions to establish their end use, potential beneficiaries, assets acquired from proceeds of crime, and the roles of other individuals and entities allegedly involved in money laundering.

The case also alleges that Rathod and his wife left India for Dubai in April 2023, where he promised investors similar assured returns through M/s Wealthpro Investment Consultant LLC, which he owns. The ED is also investigating this aspect, while custodial questioning continues to help trace the full money trail.

Our previous report discussed the NSE warning about unauthorised ‘account handling’ schemes claiming guaranteed returns, which use Telegram channels to contact investors and pressure them to share their trading credentials. The article explained that such individuals/entities are not registered members or authorised representatives of the exchange, and investors who deal with them do not receive the benefit of the exchange’s investor protection, dispute resolution and grievance redressal mechanisms.

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