A Bengaluru-based investment firm has played foul with several celebrities including the former Indian captain and current Under-19 coach Rahul Dravid, Indian badminton star Saina Nehwal and former Badminton player Prakash Padukone along with several other politicians and businessmen.
The investment firm named as Vikram investors zoomed on the famous names in the field of sports, cinema, politics and business as their prime targets, as per Bengaluru city police. These celebrities have invested crores of rupees in this Ponzi-scheme and they have received modest returns so far.
A report in News 18 states that the police has arrested company owner Raghavendra Sreenath along with agents Sutram Suresh, Narasimhamurthy, KC Nagaraj and Prahlad, all of which will serve a 14-day custody.
Sutram Suresh boasts of around 17 years of experience as a sports journalist with a reputed organization. The police have speculated this as the reason why Suresh was able to convince so many sportspersons to invest in the scheme.
“The gang has duped the investors of over Rs 300 crores. We are verifying the documents,” a police officer was quoted as saying by News 18.
The scheme offered attractive returns to these eminent people on high-value investments which lured them into the trap. The police are obtaining the names of investors and are checking their bank accounts simultaneously.
The main accuse is Raghavendra who opened this investment company’s central branch at Yeshwantpur and with time recruited agents who agreed to partake in the shady business.
None of the high-profile names have yet complained to the police in this matter but they are expected to ask for the police’s help sooner rather than later. Rahul Dravid and his family members had invested 35 crore rupees and Saina Nehwal reportedly invested around 1.5 crore rupees. So far 66 complaints have reached the police department against the firm Vikram investments.