Overview

• Thepade was arrested on August 24 from a five-star hotel in South Mumbai after allegedly evading authorities for months.
• Searches linked to the arrest led to the freezing of more than 50 bank accounts and the seizure of Rs 9.5 lakh in cash, bullion, gold and diamond jewellery worth Rs 2.33 crore, two vehicles, and digital devices.
• A special PMLA court remanded him to Enforcement Directorate custody for five days.
• The ED alleges his firms, Galaxy Constructions & Contractors Pvt Ltd and Mitsom Enterprises Pvt Ltd, secured Canara Bank credit by mortgaging already-sold properties or double‑pledging the same assets, then diverted the funds.
• The money-laundering case stems from CBI and Pune ACB FIRs, with officials examining seized financial data to identify beneficiaries, accomplices, and possible benami holdings.