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Rahul Dravid, Saina Nehwal victim of fraud by Bengaluru-based Ponzi scheme

Rahul Dravid, Saina Nehwal and Prakash Padukone are among 800 others, including well-known figures from the field of art, cinema, politics and commerce; all of whom seem to have been deceived by a firm called Vikram Investment Company according to the Bengaluru City Police.

cricket Updated: Mar 14, 2018 16:42 IST
HT Correspondent
HT Correspondent
Hindustan Times, Mumbai
Rahul Dravid,Saina Nehwal,Indian cricket team
Rahul Dravid has allegedly become victim of a financial fraud by Bengaluru-based Ponzi scheme.(PTI)

Rahul Dravid, former Indian cricket team captain, alongside badminton icons Saina Nehwal and Prakash Padukone are among the high-profile individuals who have been allegedly tricked by a Bengaluru-based Ponzi scheme, according to News18.

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The high profile athletes are among 800 others, including well-known figures from the field of art, cinema, politics and commerce; all of whom seem to have been deceived by a firm called Vikram Investment Company according to the Bengaluru City Police.

The police have arrested Raghavendra Sreenath, the owner of the company along with agents Sutram Suresh, Narasimhamurthy, K C Nagaraj and Prahlad.

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Suresh is said to be a well-known sports journalist in the Bengaluru circuits and was the person who convinced the sports personalities to invest in the ponzi scheme.

“They have been sent to police custody for 14 days. 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 police claims that the accused has divulged information on all the investors and officers are scouring through their bank details.

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The company had promised up to 40% returns on investments the police further claimed.

According to an Asianet report, the case came to the front after PR Balaji, owner of the Balaji Agarbathi Company, filed a complaint against Vikram Investment and its management.

First Published: Mar 14, 2018 12:40 IST