CBI brings Avinash Arjun Rathod back from UAE in joint operation
The Central Bureau of Investigation (CBI), along with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), coordinated the successful deportation of Red Notice subject Avinash Arjun Rathod from the United Arab Emirates (UAE).
Rathod arrived in Mumbai on 23 July 2026 and was immediately taken into custody by the Maharashtra Police. Rathod is the main suspect in a major financial fraud worth hundreds of crores. He avoided arrest for years after running an investment scam that took people’s savings.
The CBI says this case shows India is getting better at finding and bringing back economic offenders who escape overseas.
According to official reports, Rathod is wanted for large-scale financial fraud. He and his team convinced people to invest in several schemes by promising fake fixed monthly returns. After collecting the money, he moved it through different bank and demat accounts, cheating investors.
Investigators say the scheme primarily operated through APS Wealth Ventures, a Pune-based company that Rathod started in 2011. He and his team promoted it as a stock market investment and targeted middle-class families, Government workers, and professionals across Maharashtra, including Pune, Mumbai, and Vidarbha. They promised high fixed returns and claimed investments could double in 20 months. People invested anywhere from a few lakhs to over a crore, with some putting in all their life savings.
To gain trust, the accused gave small early returns to the first investors, using a Ponzi-style method that encouraged people to refer others and grow the scheme. By early 2023, things started to fall apart. When investors asked to withdraw their money in March 2023, Rathod said he was ill and asked for more time until 10 April.
During this time, his wife, Vishakha Rathod, ran the office and spoke with investors. But on the promised date, both disappeared. Investors then found out their money was gone and the couple had escaped to Dubai.
Numerous investors filed complaints with the Economic Offences Wing of Pune Police. An FIR was registered at Chaturshringi Police Station, and the investigation revealed the extent of the fraud.
Losses are estimated at Rs 125 crore from over 600 investors, and the total could reach Rs 700 crore over several years. No matter the final amount, many families lost their savings, retirement money, and financial security.
A non-bailable warrant was issued, and Indian authorities asked INTERPOL for help.
A Red Notice was put out for Rathod, making him wanted worldwide. Getting him back from the UAE took ongoing efforts by the MEA, coordination from the MHA, and steady follow-up by the CBI. He returned on 23 July 2026, ending years of work. After the suspect arrived in Mumbai, Maharashtra Police took him into custody and will present him in court.
The CBI may lead or closely monitor the investigation, focusing on tracing funds, identifying additional suspects, and recovering assets for victims.
This case highlights the persistent issue of investment fraud, which exploits public trust in financial markets and the allure of ‘assured returns.’ The APS Wealth Ventures case serves as a reminder of the risks associated with unregulated or inadequately vetted investments.
