The Enforcement Directorate raided several places in Maharashtra on Thursday in connection with a money laundering case involving absconding Dubai-based businessman Vinod Khute.
The ED seized cash, bank balances, FDs and jewellery worth Rs 5 crore. The probe was launched based on an FIR registered at Pune's Bharti Vidhyapeeth Station. The case was filed against Vinod Khute, Santosh Khute, Mangesh Khute, Kiran Pitamber Anarase, Ajinkya Badadhe and others for cheating common people in the name of multi-marketing schemes and collecting Rs 100 crore in this regard.
Who is Vinod Khute?
Vinod Tukaram Khute is absconding and suspected to be residing in Dubai. The businessman is reportedly responsible for several illegal trade, crypto exchange, wallet services and forex trading via his Dubai firm Kana Capital Ltd.
He also set up other companies to carry out financial frauds. These include VIPSWALLET Pvt Ltd, VIPSTRADE Finance Pvt Ltd, Phoenix FX, Global Affiliate Business, Real Gold Capital, VIPS Securities and VIPS Properties.
The ED had earlier attached balances in bank accounts worth Rs 21.27 crore and fixed deposits amounting to Rs 3.14 crore under Prevention of Money Laundering Act, 2002.