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CID arrests firm director in ₹3,000 crore credit society fraud
Kute, a resident of Kutewadi in Beed, was apprehended in Baner on Tuesday after being on the run for over 18 months
The Crime Investigation Department (CID) has arrested Archana Suresh Kute, a director of Gyanaradha Multi-State Co-operative Credit Society, in connection with a ₹3,000-crore fraud case affecting nearly 10,000 investors.
Kute, a resident of Kutewadi in Beed, was apprehended in Baner on Tuesday after being on the run for over 18 months. She was arrested alongside fellow director Asha Padmakar Patodekar (also known as Patil), a resident of Patoda in Beed. The CID’s Chhatrapati Sambhajinagar unit carried out the operation.
Kute’s husband, Suresh Kute, the society’s chairman, had been arrested earlier. The couple is accused of collecting thousands of crores from investors and diverting the funds for personal use.
Between May and September 2025, the CID registered 95 criminal cases against the society’s board of directors, including the chairman, vice-chairman, secretary, and others. The investigation is being led by the Chhatrapati Sambhajinagar division.
During the Pune raid, CID officials seized assets worth over ₹2.10 crore, including gold ornaments worth ₹80.90 lakh (60 items), silver items worth ₹56.75 lakh, ₹63 lakh in cash and a high-end scooter valued at ₹10 lakh.
Of the 13 directors under investigation, nine, including prime accused Suresh Kute and now Archana Kute, have been arrested.
