ED Arrests Archana Kute in ₹2,467 Crore Dnyanradha Credit Society Money Laundering Case
March 5, 2026
ETT News / New Delhi
The Enforcement Directorate’s Mumbai Zonal Office arrested Archana Kute on March 2, 2026, for her alleged involvement in a massive money-laundering scheme linked to the Dnyanradha Multistate Co-operative Credit Society Ltd (DMCCSL). Following her arrest under the Prevention of Money Laundering Act (PMLA), 2002, she appeared before a Special Court in Mumbai on March 3, which granted the ED custody of the accused until March 7 for further interrogation.
Federal investigators launched the probe after various police stations across Maharashtra registered multiple FIRs between May and July 2024. These initial complaints accused Suresh Kute and others of orchestrating a high-yield investment fraud through the credit society, promising returns as high as 12% to 14%. Thousands of investors reportedly lost their savings when the society failed to return their deposits or provide the promised interest.
The ED investigation uncovered a systematic diversion of approximately ₹2,467 crore from the credit society’s accounts. This substantial sum moved as "loans" to the Kute Group, a collection of companies beneficially owned and controlled by Suresh and Archana Kute. Authorities found that these disbursals occurred without any proper documentation, collateral security, or end-use certification to ensure the funds remained within legitimate business channels.
Evidence suggests that the Kute family siphoned off these investor funds for personal benefit or funneled them into unrelated business interests rather than the credit society’s operations. This latest arrest follows the prior apprehension of Suresh Kute, against whom the ED has already filed a formal Prosecution Complaint that the Special Court has officially acknowledged.
To date, the enforcement agency has conducted numerous searches and issued several Provisional Attachment Orders to recover the missing funds. These actions have resulted in the seizure of movable and immovable assets valued at approximately ₹1,621.89 crore. Investigators continue to track the remaining diverted assets as the probe into the wider network of financial irregularities progresses.
ED Archana Kute Arrest Dnyanradha Credit Society Scam 2467 Crore Fraud Case Suresh Kute Money Laundering Case ED Mumbai Investigation
Recommended Posts
Latest
The News Feed
Most Visited Stories
