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Rahul Dravid, Saina Nehwal, Prakash Padukone Among 800 'Duped' by Bengaluru Ponzi Firm

Interestingly, one of the agents of the defrauding company is a well known sports journalist in Bengaluru. Police said that he was instrumental in convincing the sports legends in investing money in this ponzi scheme.

D P Satish | CNN-News18dp_satish

Updated:March 12, 2018, 12:32 PM IST
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Rahul Dravid, Saina Nehwal, Prakash Padukone Among 800 'Duped' by Bengaluru Ponzi Firm
According to Bengaluru police, the accused revealed that they had duped Rahul Dravid. However, the police is yet to get a confirmation from sports stars. (Courtesy: BCCI/Twitter)
Bengaluru: A city based investment firm has allegedly cheated hundreds of people, including cricket legend Rahul Dravid, badminton sensation Saina Nehwal and former badminton star Prakash Padukone, of crores of rupees.

According to Bengaluru City Police, Vikram Investment Company has duped over 800 people, including prominent personalites from the field of art, cinema, sports, politics and commerce.

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

Interestingly, Suresh is a well known sports journalist in Bengaluru. Police said that he was instrumental in convincing the sports legends in investing money in this 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 said.

The police claim that the accused persons have revealed the names of the investors, and the officers are checking their bank account details.

The company had promised upto 40% returns on investments and many people fell for it, the police claimed.

The sports legends are yet to react to police claims. While Rahul Dravid and Saina Nehwal could not be contacted, a representative for Prakash Padukone declined to comment.

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| Edited by: Sumedha Kirti
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