Ravindra Nath Soni, the prime accused in one of the UAE’s biggest investment frauds, was arrested on Sunday afternoon in Dehradun after an 18-month manhunt. It was a food delivery order that led to his arrest.
Who is Ravindra Nath Soni?
Ravindra Nath Soni, 44, is the owner of the Dubai-based BlueChip Group and the prime accused in a major investment scam, as per a Khaleej Times report. He allegedly defrauded numerous investors by promising unusually high monthly returns through his company.
BlueChip, which operated out of the Al Jawhara Building in Bur Dubai, advertised “guaranteed” returns of 3 per cent per month — or 36 per cent annually — on a minimum investment of USD 10,000 locked in for 18 months.
(Also read: Who is Indian-origin owner Ravindra Nath Soni? Key accused of Dubai BlueChip Group scam arrested by Kanpur Police)
The scheme collapsed in March 2024 when payments suddenly stopped, leaving hundreds of UAE residents, many of them Indian expats, facing losses estimated to exceed USD100 million (Dh367 million).
{{/usCountry}}The scheme collapsed in March 2024 when payments suddenly stopped, leaving hundreds of UAE residents, many of them Indian expats, facing losses estimated to exceed USD100 million (Dh367 million).
{{/usCountry}}As cheques began bouncing, the BlueChip Group office was abandoned overnight and Soni himself vanished along with senior staffers.
The hunt for Ravindra Nath Soni
Soni’s arrest came after a fraud complaint filed against him by Delhi resident Abdul Kareem on January 5. Kareem alleged that Soni convinced him and his son Talha, who works in Dubai, to invest Dh1.6 million ( ₹4 crore approximately). He had promised to double the money in a year.
On November 30, Soni was taken into custody by Kanpur Police in Dehradun. It was a food delivery order that led to his arrest.
Additional Deputy Commissioner of Police (ADCP) Law & Order, Kanpur Nagar, Anjali Vishwakarma, told Khaleej Times that an order was placed from the hideout where Soni had been staying, This helped Vishwakarma’s team trace his location.
“He was caught through a food-delivery order. I don’t know what he ordered; we were in a hurry to grab him,” she said. “This is a big catch.”
(Also read: Dubai firm vanishes overnight without a trace, Indian investors lose millions: ‘Like they never existed’)