Wife of Rs 88-crore fraud mastermind deported from UAE to face probe in India

Wife of Rs 88-crore fraud mastermind deported from UAE to face probe in India Vishakha Rathod, the wife of Avinash Rathod, who is accused of orchestrating an Rs 88-crore investment fraud, was deported from the United Arab Emirates to India on August 3. The Central Bureau of Investigation (CBI) confirmed that she was traced and returned to India through coordinated efforts involving the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA). She arrived in Pune, where she was taken into custody by the Maharashtra Police. This marks another step in the ongoing investigation into one of Maharashtra’s most high-profile financial crimes. The deportation came nearly two weeks after Avinash Rathod, the alleged mastermind of the fraud, was repatriated to India. He had been detained in the UAE under an Interpol Red Notice issued by Indian authorities. Avinash was apprehended by UAE authorities and handed over to Indian officials on July 23. Upon arrival in Mumbai, he was arrested by the Pune Police’s Economic Offences Wing and placed under custodial remand for 10 days. His arrest followed months of investigative work aimed at tracing the whereabouts of the couple, who had fled the country after allegedly defrauding numerous investors. Investigations reveal that Vishakha and Avinash Rathod were central figures in a complex scheme that lured investors with promises of guaranteed monthly returns. According to the CBI, these promises were deceptive, and the funds collected were siphoned through multiple bank and demat accounts rather than being used for their intended purposes. The total value of the alleged fraud is estimated at approximately Rs 88 crore. Authorities believe the couple, alongside other accomplices, systematically misused investor money before vanishing from the country. The CBI emphasized that the successful deportation of Vishakha Rathod was made possible through close collaboration with UAE authorities and international law enforcement bodies. An Interpol Red Notice was issued against both Rathods at the request of Indian agencies, enabling the legal process of their extradition. The MEA and MHA played a crucial role in facilitating the diplomatic and administrative procedures required for the deportation. Once in India, both individuals are now under the jurisdiction of the Maharashtra Police, where they will undergo further interrogation and legal scrutiny. This case underscores India’s growing commitment to recovering fugitives involved in financial crimes. The CBI has been actively working with Interpol and other international agencies to track down individuals who have evaded justice by fleeing abroad. As part of this effort, the agency operates the Bharatpol platform, which enhances cooperation between Indian law enforcement and its global counterparts. The government has also announced that since 2019, it has managed to bring back 274 fugitives from 36 different countries, demonstrating a marked increase in the effectiveness of India’s international legal cooperation initiatives. The Rathod case is emblematic of the broader challenges faced by authorities in combating large-scale financial frauds. With the couple now in Indian custody, investigators expect to gain more insights into the structure of the fraudulent network and the flow of illicit funds. Further legal action is anticipated, with the possibility of charges being filed against both individuals based on the evidence gathered during their interrogations. The case also highlights the importance of cross-border collaboration in addressing transnational financial crimes.