Rahul Dravid duped by Bengaluru-based, files police complaint

March 18, 2018 15:00

Former Indian cricketer Rahul Dravid has filed a complaint against a Bengaluru-based wealth management firm Vikram Investments for duping him to the tune of Rs 6 crore.

Dravid claimed in his complaint to the Sadashiva Nagar police that he invested Rs 20 crore in the company on the assurance of higher returns, but did not even get back the principal amount that he had invested.

Dravid said that of the Rs 20 crore money he invested, he received Rs 16 crore back while the company has not returned the remaining Rs 4 crore.

The company has been accused of defrauding over 800 investors to the tune of over Rs 300 crore. The multi-crore fraud came to light on March 3 when an investor PR Balaji filed a complaint against the company for cheating him of Rs 11.74 crore. Five people, including Vikram Investments managing director Raghavendra Srinath, have been arrested in connection with the alleged fraud case.

After the arrests, several people have come out to lodge their complaints. Police said that they have nearly 100 complaints against Vikram Investments. Seeking the custody of those arrested, the police told the court that the accused had diverted funds to foreign countries and they needed to interrogate them to trace the money trail and recover it.

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