Directorate of Enforcement (ED), Mumbai Zonal Office has arrested Sudhanshu Dwivedi
on 02.06.2025 under Prevention of Money Laundering Act (PMLA), 2002 as part of the ongoing
probe in a fraud case against Sudhanshu Dwivedi & Others. He was produced before the
Hon’ble Special Court (PMLA), Mumbai on 02.06.2025 and the Hon’ble Court granted ED
custody of him till 09.06.2025 (7 days).
ED initiated investigation on the basis of FIR registered by Mumbai Police against
Sudhanshu Dwivedi and others under various Sections of the Bharatiya Nyaya Sanhita, 2023,
and the Arms Act, 1959 for defrauding investor to the tune of Rs.96.68 Crore (approx.), being
the Proceeds of Crime (POC) in the case.
ED investigation revealed that Sudhanshu Dwivedi dishonestly induced investor to make
investments in commodities luring with promise of high returns, Sudhanshu initially supplied
grains/commodities and gained trust. However, subsequently he stopped supplying
commodities and siphoned off the investor funds. Investigation revealed that upon receipt of
funds from investor, Sudhanshu Dwivedi diverted the funds to his related entities and
misappropriated the funds. Funds were routed through entities controlled by his family creating
a facade to project the POC as untainted.
Earlier, ED has conducted search operation in this case on 27.05.2025 resulting in
seizure/freezing of various movable assets along with other incriminating documents & digital
devices.
Further investigation is under progress
