A woman wanted in connection with a Rs 88 crore investment fraud has been extradited from the United Arab Emirates (UAE) to India following coordinated efforts by the Central Bureau of Investigation (CBI), the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), according to a TOI report.
The accused, Vishakha Rathod, was brought back to India on Monday after being the subject of an INTERPOL Red Notice in connection with the high-value financial fraud case.
Read more - TASMAC online liquor booking starts today: Direct link, app and how to order online
CBI secures extradition from UAE
According to the TOI report, the CBI coordinated with Indian authorities and their counterparts in the UAE to secure Rathod's deportation.
Investigators say Rathod and other accused persuaded investors to put money into multiple investment schemes by promising assured fixed monthly returns.
Authorities claim the schemes collected around Rs 88 crore from investors.
Pune Police investigating the case
The case was registered in 2023 at Chatushrungi Police Station in Pune and is being investigated by the Economic Offences Wing (EOW) of Pune Police.
Rathod, a resident of Wakad, was operating an office of the investment firm in Aundh.
Besides cheating charges, she and other accused have also been booked under the provisions of the Maharashtra Protection of Interests of Depositors (MPID) Act.
Searches conducted across Maharashtra
During the investigation, EOW officials carried out searches in Pune, Satara, Lonavala and Mumbai, but Rathod and the other accused could not be located.
Police subsequently issued Look Out Circulars (LOCs) against them to prevent them from evading the investigation.
Funds routed through multiple accounts, say investigators
According to investigators, the accused misappropriated investors' funds and diverted the money through multiple bank accounts and demat accounts.
Indian authorities later secured an INTERPOL Red Notice, which helped facilitate Rathod's extradition from the UAE.
Probe continues
With Rathod now back in India, investigators are expected to continue questioning her as part of the ongoing probe.
Authorities are also examining the money trail and the role of other accused to determine the full extent of the fraud and trace the diverted funds.
