Pune News
ED Seizes Assets Worth Rs 8.98 Cr from Pune Businessman Vinod Khute
The Mumbai Zonal Office of the Directorate of Enforcement (ED) has taken significant action by issuing a provisional attachment order under the Prevention of Money Laundering Act (PMLA), 2002. The order pertains to the attachment of immovable assets worth Rs 8.98 crore owned by various family members of Vinod Khute, the owner of VIPS Group of Companies and M/s Global Affiliate Business company, both based in Pune.The assets that have been attached include five residential flats measuring 366.92 sq. meters, two multipurpose halls measuring 139.39 sq. meters, located in Pune, two office spaces measuring 366.92 sq. meters, also in Pune, and a land parcel measuring 2 hectares situated in the Ahmednagar district of Maharashtra.
The ED’s investigation was initiated based on a First Information Report (FIR) filed by the Bharti Vidyapeeth Police Station in Pune. The FIR accuses Vinod Tukaram Khute, Santosh Khute, Mangesh Khute, Kiran Pitamber Anarase, Ajinkya Badadhe, and unknown others of cheating common people and conspiring to lure them into Ponzi schemes and forex trading under the guise of promising high returns. The alleged scam collected over Rs 100 crore in the bank accounts of various sham firms, entities, and companies.According to the ED, Vinod Khute, who is currently absconding and believed to be residing in Dubai, is the mastermind behind illicit trades, including crypto exchange, wallet services, and forex trading through M/s Kana Capital Limited, a firm based in Dubai.
The investigation has further revealed that Vinod Khute established multiple companies, such as M/s VIPSWALLET, M/s VIPSTRADE Finance Private Limited (M/s VTFPL), M/s Kana Capitals Limited, M/s Global Affiliate Business (GAB), VIPS Securities, and VIPS Properties, among others, to facilitate illicit financial activities. The ED alleges that funds collected from investors were funneled through shell companies and dummy accounts to conceal the illegal nature of the transactions. Subsequently, the funds were transferred from India to Dubai via hawala operators, exchanging them for cryptocurrencies like USDT to evade regulatory scrutiny and facilitate money laundering.
Follow Us
