Mumbai Police’s Economic Offences Wing has arrested four people in its investigation into the alleged AI Origin/Digital Origin investment scheme, which authorities estimate involves transactions of around ₹30 crore. Investigators suspect the operation may have functioned as a Ponzi and multi-level marketing scheme, allegedly attracting investors through promised returns without required regulatory approvals. Searches reportedly resulted in the recovery of over ₹12 lakh in cash, vehicles, bank records and electronic devices. The EOW is examining financial transactions and digital evidence to determine the full scope of the case.
Mumbai AI Origin/Digital Origin Case: EOW Arrests Four Accused in Alleged ₹30 Crore Investment Fraud Investigation
Mumbai’s Economic Offences Wing (EOW) has intensified its investigation into the alleged AI Origin/Digital Origin investment scheme, arresting four accused while expanding its probe into an alleged ₹30 crore Ponzi and multi-level marketing (MLM) operation.
The Economic Offences Wing (EOW) of the Mumbai Police has launched an extensive investigation into the alleged AI Origin/Digital Origin investment scheme, registering a criminal case against the company’s operators and other accused over suspected financial irregularities.
According to the EOW, the company allegedly collected substantial investments from members of the public by operating investment schemes without obtaining the required regulatory approvals from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).
Investigators suspect the alleged scheme functioned as a Ponzi and Multi-Level Marketing (MLM) operation, reportedly attracting investors with promises of financial returns. Authorities have clarified that the investigation remains ongoing, and the allegations are yet to be tested before a court.
During coordinated searches at locations linked to the accused, the EOW recovered more than ₹12 lakh in cash, along with bank account passbooks, cars, laptops, mobile devices, and other electronic equipment believed to be relevant to the investigation.
Four Accused Arrested in AI Origin/Digital Origin Investigation
The Economic Offences Wing has confirmed the arrest of four accused in connection with the alleged investment fraud. The arrested individuals have been identified as Krishna Pandurang Chavan, Ankush Shantaram Part, Dr. Sudesh Mohite, and Subhash Pandere.
According to investigators, preliminary findings indicate that funds were allegedly mobilised from investors through an organised investment programme before being channelled through multiple financial mechanisms. Authorities are examining the movement and utilisation of these funds.
Officials are also scrutinising banking records, financial transactions, investor contributions, digital evidence, and the specific roles allegedly played by each accused in operating or promoting the investment scheme.
The EOW has not disclosed the total number of investors affected. However, preliminary estimates indicate that the alleged financial operation under investigation involves transactions amounting to approximately ₹30 crore, although the exact financial impact will be determined after a detailed forensic examination.
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Financial Records and Electronic Evidence Under Detailed Examination
Investigators are conducting an extensive review of seized financial documents, bank records, digital devices, and electronic data to establish the alleged money trail and identify any additional individuals who may have been involved.
Officials stated that forensic examination of laptops, mobile phones, banking information, and electronic storage devices could provide further evidence regarding the operation of the alleged investment network and the movement of investor funds.
The Economic Offences Wing is also verifying whether the investment activities complied with applicable financial regulations and whether any statutory permissions from the Reserve Bank of India (RBI) or the Securities and Exchange Board of India (SEBI) were obtained before the schemes were allegedly offered to investors.
Authorities indicated that the scope of the investigation may expand if further evidence reveals additional beneficiaries, facilitators, or associates connected with the alleged operation.
Senior Mumbai Police Officers Lead Ongoing EOW Investigation
The investigation is being conducted by the Economic Offences Wing (EOW) under the supervision of senior Mumbai Police officers.
The investigation team includes Joint Commissioner of Police Rajesh Pradhan, Deputy Commissioner of Police Sangramsingh Nishandar, In-charge Police Inspector Umesh Gaud, then In-charge Police Inspector Clistus D’Mello, Police Inspector Santosh Tore, Sanjay Bhosale, Sunil Langhi, Pravin Kharade, Tukaram Parab, Milind Borse, Sandeep Pise, Tushar Sawant, Vikram Kale, Mangesh Sawant, Ramesh Avhad, Anand Kulkarni, Kiran Chavan, Lalit Mahajan, Amit Patil, Aditya Gadigaonkar, and Navnath Pansare.
Officials stated that the investigation remains active, with financial analysis and forensic examination continuing to determine the complete extent of the alleged investment operation.
As the probe progresses, investigators are expected to analyse additional financial records, digital evidence, and investor transactions to establish whether further offences were committed and whether more individuals should be questioned or arrested. Sprouts News understands that authorities are continuing to gather documentary and electronic evidence before reaching further conclusions. The outcome of the investigation will depend on the findings of the ongoing EOW inquiry, and all allegations remain subject to judicial scrutiny.
