Rahul Dravid Duped of Crores by Bengaluru Ponzi Firm

Rahul Dravid duped by Bengaluru-based firm of crores files police complaint

Rahul Dravid duped by Bengaluru-based firm of crores files police complaint

Former Indian cricketer Rahul Dravid has filed a complaint against a Bengaluru-based wealth management firm Vikram Investments for duping him to the tune of Rs 6 crore. Suresh, who was produced in court last week, said investments worth Rs 34 crore made by him in Vikram Investments had been defrauded by the owner of the company Raghavendra Srinath and others.

Dravid has previously invested 20 crores in the company.

"Dravid has got Rs 16 crore, but he is yet to receive the remaining Rs 4 crore". Dravid's complaint with the Sadashivanagar police in central Bengaluru comes on the heels of dozens of complaints of fraud filed against Vikram Investments by investors from the across the city over the past couple of weeks. Dravid claimed in his complaint to the Sadashiva Nagar police that he invested Rs 20 crore in the company on the assurance of higher returns, but did not even get back the principal amount that he had invested.

The alleged case of cheating against the decade-old firm emerged after an investor P R Balaji, 48, the owner of an agarbatti company, filed a complaint before Banashankari police on March 3, accusing Vikram Investments of cheating him of Rs 11.74 crore. Raghavendra's associates Nagaraju, Narasimhamoorthy, Prahlad and Sutram Suresh have also been arrested.

Reports suggest that several sports bigwigs like Badminton player Saina Nehwal and Prakash Padukone who invested in the firm, have also been duped. It is being said that the sportspersons invested their money in the company through Suresh. Raghavendra was taken to both properties over Thursday and Friday as part of the investigation. His wife Sunitha, who is also one of the company directors, is absconding. The others, including the journalist, worked for them for commissions of up to 12 per cent for the investments they brought, the officer said. The gang has duped the investors of over Rs 300 crore.

"She had invested in the names of her son and mother around the same time Dravid did".

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