Mumbai: The Enforcement Directorate (ED) has provisionally attached immovable assets worth approximately Rs 14 crore in connection with its ongoing alleged money laundering probe against the VIPS Group of companies, allegedly controlled by Dubai-based Vinod Tukaram Khute, along with his family members and associates.
ED Attaches Land, Flats Across Maharashtra
The assets, which include land parcels and flats located in Pune, Dharashiv, Kolhapur, and Sangli districts of Maharashtra, were attached via a Provisional Attachment Order issued by the ED's Mumbai zonal office on July 25.
With the latest attachment, the cumulative value of assets attached and frozen in the case has reached Rs 89.54 crore.
Investigation Stems From ₹100 Crore Scam FIR in Pune
The central agency’s investigation stems from an FIR registered by Bharti Vidyapeeth Police Station in Pune under various sections of the Indian Penal Code (IPC) against Khute and others, including Santosh Khute, Mangesh Khute, and Kiran Pitamber Anarase. They are accused of duping over Rs 100 crore from the public through fraudulent ponzi and multi-level marketing schemes disguised as forex trading platforms promising high returns.
Probe Linked to Ponzi Scam Run by Dubai-Based Vinod Khute
According to ED, Vinod Khute, currently based in Dubai, is the alleged mastermind behind several illicit operations involving multi-level marketing, fake crypto exchanges, and illegal trading platforms operated through entities like VIPS Group, Global Affiliate Business, Kana Capital, and Real Gold Capital.
Funds Laundered via Shell Companies, Crypto and Hawala to Dubai
The attached properties are reportedly held by Khute’s close associates who played a role in luring the public into bogus investment schemes. The ED said the proceeds from these schemes were funneled through shell entities, layered through various channels, converted into cryptocurrency or routed via hawala networks, and ultimately siphoned off to Dubai.
