Dravid files complaint against ‘Ponzi’ company

MUMBAI: Former India skipper Rahul Dravid has filed a police complaint against a Bangalore company that allegedly ran a Ponzi scheme and owes him a big chunk of the sum he had deposited on being promised handsome returns.

According to TV channel News18, Dravid said in his complaint that he had invested ~20 crore in Vikram Investments, but has so far been paid back only ~16 crore.

Dravid lodged the complaint at Bangalore’s Indiranagar Police Station.

The complaint has been transferred to Banashankari Police Station, which is reportedly probing a scam to the tune of ~500 crore.

Ponzi scheme is a fraud where belief in the success of a fictitious enterprise is built by the payment of quick returns to the initial investors from the deposits by later investors.

The TV report said police has arrested owner of the company, Raghvendra Sreenath, and four agents on complaints that they have allegedly duped more than 80 people.

The report said one of the agents was a journalist who allegedly helped convince Dravid, badminton star Saina Nehwal and former shuttle great Prakash Padukone to invest in the Ponzi scheme.

A police official said: “They have been sent to 14 days’ police custody. The gang has duped investors of over ~300 crore. We are verifying the documents.”

The company had lured its high-profile victims by reportedly promising 40 per cent interest on their investments, police said.

The accused have revealed names of investors and their bank accounts are being checked.