Rahul Dravid files police complaint, duped of Rs4 crore by ponzi firm

Lloyd Doyle
March 18, 2018

Indian cricket legend and coach of the Under 19 World Cup winning cricket team, Rahul Dravid has filed a complaint against a Bengaluru based investment and fund management firm Vikram Investments. Police have accused Srinath and four people who worked as agents, including Suresh, to bring in investors, of defrauding over 800 people to the tune of over Rs 300 crore. Apart from Dravid, many other many sportspersons and celebrities have been duped by the company. Earlier on March 3, another investor PR Balaji had lodged a complaint against it for duping him of Rs 11.

The former cricketer reportedly said he was paid the promised returns on investment of Rs 20 crore made through Vikram Investments in the past but the firm had not paid returns on Rs 4 crore invested since 2017.

The Banashankari police have so far arrested five accused, including Raghvendra Srinath, the Managing Director of the company and the main accused, his associates Nagaraju, Narasimhamurthy, Prahalad and Sutram Suresh.

Talking to PTI Sadashivanagar police inspector Naveen said, "Dravid had lodged a complaint with us two days back against Vikram Investment Company for cheating him of Rs 4 crore". They were sent to judicial custody on Saturday.

He stated that in 2014, Sutram Suresh, a former sports journalist, approached him and persuaded him to invest in their schemes.

The police claims it has seized properties worth crores of rupees and assured the investors would get around 80% of the money back. "Most of the complainants are professionals; some of them are doctors", the officer said.

Raghavendra and his wife Sunitha, who is apparently in hiding, owned the company. 74 crores. Later many other people also filed complaints against the company.

On Thursday, the police had raided the Vikram commodities and Vikram Logistics Company in Chennai. After the first investment, Dravid said that he received good returns in 2015.

Other reports by Iphone Fresh

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