Rahul Dravid duped of Rs 40 mn by ponzi firm, files police complaint

Former Indian cricket team captain Rahul Dravid has lodged a complaint against a Bengaluru-based firm for allegedly cheating him of Rs 40 million, police said.

"Dravid had lodged a complaint with us two days back against Vikram Investment Company for cheating him of Rs 40 million," Sadashivanagar police inspector Naveen told PTI here.

Though there were reports of many sportspersons and other celebrities being duped by the company, Dravid has been the first to lodge a complaint.

A couple of weeks ago, the police had arrested five persons, including a former sports journalist, for allegedly duping several people of millions of rupees through Vikram Investment Company.

The company's owner Raghavendra Sreenath and agents Sutram Suresh (a former journalist), Narasimhamurthy, K C Nagaraj and Prahlad were arrested, Naveen said.

Dravid, in his complaint, alleged that he had invested Rs 200 million in the company in 2014 on assurance of getting higher returns, but was yet to get back Rs 40 million to match his principal investment.

"Dravid has got Rs 160 million, but he is yet to receive the remaining Rs 40 million. The cricketer has submitted relevant documents in this regard," Naveen said.

A case was registered against the company and the five persons on the basis of a complaint lodged by one of the investors P R Balaji, who owns an incense sticks company.

The complainant alleged that the agents assured him guaranteed profits in commodity trading, but did not honour it.

Sreenath had set up the company and appointed a few men including Suresh as agents promising them enhanced returns on investments, police said.