ED arrests promoter of APS Wealth Ventures over alleged Rs 157 crore investment scheme
The ED said it arrested the person who controlled APS Wealth Ventures LLP on 2 November 2026, alleging investors' money from assured-return schemes was diverted and laundered.
Key points
- The ED's Mumbai Zonal Office arrested the main person behind APS Wealth Ventures LLP under the PMLA on 2 November 2026.
- About 587 investors put in around Rs 157 crore, and around Rs 89 crore was allegedly not returned, the ED said, citing the probe so far.
- A special PMLA court in Mumbai gave the ED custody of the accused till 4 November 2026; the ED said investigation continues.
The Enforcement Directorate (ED) has arrested the person it says controlled APS Wealth Ventures LLP, in a money-laundering case over investment schemes that promised assured monthly returns. The ED's Mumbai Zonal Office made the arrest on 2 November 2026 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, and a special PMLA court in Mumbai granted it custody of the accused till 4 November 2026.
What Happened
The ED said its case is based on an FIR registered by a police station in Pune, later transferred to the Economic Offences Wing, Pune. According to the agency, investors were lured into entities run by the accused, including APS Wealth Ventures LLP, with promises of monthly returns of about 5% profit plus 5% repayment of principal for 20 months.
Investigation so far shows that about 587 investors put in around Rs 157 crore, of which around Rs 89 crore was allegedly not returned, the ED said.
The ED said the accused held about 90% of APS Wealth Ventures LLP and ran its day-to-day management and bank accounts. It alleges that investors' money was routed through several bank accounts of the LLP and associated entities, including APS Smart Gain LLP, and that funds moved from the accused's personal accounts to various individuals and into securities. These transactions are being examined to trace who finally received the money, the agency said.
The ED also said there are allegations that the accused left India for Dubai in April 2023 and offered similar assured returns there through Wealthpro Investment Consultant LLC, a firm he owns; it said these are to be examined. The agency said custodial questioning is aimed at tracing the money trail, the beneficiaries and the assets bought with the funds.
What It Means
For the investors, the case is at the investigation stage; the ED has not announced any attachment of assets in this release. Schemes that collect deposits with promises of fixed high monthly returns can be reported on RBI's Sachet portal at https://sachet.rbi.org.in.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
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Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate