Overview

• Thepade was tracked to a five-star hotel in South Mumbai, where officials say he had stayed discreetly for about two months after evading authorities.
• A Special Court (PMLA) remanded him to Enforcement Directorate custody for five days following his August 24 arrest.
• More than 50 bank accounts were frozen and seizures included Rs 9.5 lakh in cash, bullion, gold and diamond jewellery worth Rs 2.33 crore, two vehicles, and multiple digital devices.
• The probe stems from CBI and ACB Pune FIRs against his firms Galaxy Constructions & Contractors Pvt Ltd and Mitsom Enterprises Pvt Ltd.
• ED alleges the companies secured Canara Bank credit by double-pledging or selling mortgaged properties and then siphoned the funds through layered transactions.