ED uncovers ₹2,467cr fraud at Dnyanradha cooperative in Marathwada
The Enforcement Directorate (ED) has uncovered a huge ₹2,467 crore fraud at Dnyanradha Multistate Cooperative Credit Society Ltd (DMCSL), which started in 2006 to support Maharashtra's Marathwada region.
Instead of helping locals, the society allegedly funneled investors' money, collected from nearly 600,000 people with promises of high returns, into the Kute group of companies, which were beneficially owned and controlled by Suresh Kute and his wife, Archana Kute.
₹3,545.05cr to Kute group firms
ED found that out of ₹3,696 crore given as loans by DMCSL, almost all, ₹3,545.05 crore, was sent to Kute-controlled firms without proper paperwork or collateral.
These funds reportedly went toward lifestyle expenses, investment in new businesses, purchase of properties, or personal expenses for Kute.
ED filed charges against 24 accused in March 2025 and attached assets worth ₹1,627.86 crore.
Kute was arrested on January 7, 2025; Archana Kute was arrested in March 2026.
The investigation is still ongoing.