The central bureau of investigation (CBI), in coordination with the Union ministry of external affairs (MEA) and the ministry of home affairs (MHA), has secured the deportation of wanted fugitive Vishakha Rathod from the United Arab Emirates (UAE) in connection with an alleged ₹88 crore investment fraud, nearly two weeks after her husband and the alleged mastermind of the scam, Avinash Rathod, was brought back to India.
Ms Rathod, who was the subject of an Interpol Red Notice issued at the request of the Indian authorities, arrived in Pune on 3 August 2026 and was taken into custody by the Maharashtra Police. Further investigation is underway.
CBI said the operation was carried out in close coordination with MEA, MHA and law enforcement authorities in the UAE.
According to investigators, Ms Rathod and her husband are accused of inducing investors to invest in multiple schemes by promising assured fixed monthly returns.
CBI alleged that instead of deploying the funds as promised, the accused dishonestly misappropriated investors' money and diverted the proceeds through multiple banks and demat accounts.
The agency said the alleged fraud involved about ₹88 crore and forms part of a larger investigation into investment schemes that allegedly duped hundreds of investors.
On 4 June 2026, an Interpol Red Notice was issued against both Avinash and Vishakha Rathod. Acting on the notice, the UAE authorities detained Avinash Rathod before facilitating his deportation to India.
On his arrival at Mumbai International Airport, he was arrested by the Pune police's economic offences wing (EOW), taken to Pune and produced before a court which remanded him to 10 days' police custody.
Investigators have described Avinash Rathod as the alleged mastermind behind the investment fraud.
High Court Earlier Rejected Bail Plea
Earlier, in July 2023, the allegations against Ms Rathod came under judicial scrutiny when the Bombay High Court rejected her anticipatory bail plea.
According to the prosecution, she and her husband operated APS Wealth Venture LLP, which allegedly accepted investments by promising monthly returns of 5%, with investors told that their investments would effectively double in about 20 months.
The government told the High Court that one complainant invested ₹6 lakh in November 2021 after entering into an agreement promising monthly returns. While payments were allegedly made for a few months, they subsequently stopped, leading to the registration of a first information report (FIR).
The prosecution further alleged that investors had collectively invested about ₹300 crore with APS Wealth Venture LLP and that the firm had cheated investors of at least ₹15.45 crore in the case under investigation.
It also informed the Court that investigators had seized computer hard disks, frozen nine bank accounts linked to the firm and recorded witness statements.
The government claimed that witness statements placed Ms Rathod at meetings where investors were allegedly persuaded to invest. It also alleged that she received investor funds through another partnership firm, failed to cooperate with investigators despite notices and, along with her husband, disposed of properties purchased using the alleged proceeds of crime.
Rejecting the anticipatory bail plea, Justice Amit Borkar observed that, considering the seriousness of the allegations, the material collected by the investigating agency, the applicant's conduct and the gravity of the alleged offence and its impact on society, no case for granting pre-arrest bail was made out.
CBI Continues Fugitive Crackdown
CBI said it continues to coordinate with law enforcement agencies through the Bharatpol platform and Interpol channels to trace and secure the return of fugitives wanted in criminal and economic offences.
The deportation of Ms Rathod comes after the Union government informed Parliament earlier this week that India had successfully brought back 274 fugitive criminals from 36 countries between 2019 and July 2026 as part of its efforts to ensure that offenders evading Indian law while staying abroad are brought to justice.
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