Former India cricket captain Rahul Dravid has been cheated for Rs 6 crore by Vikram Investments, a Bengaluru-based wealth management company.
The issue came into the limelight after Rahul Dravid filed a complaint in the Sadashiva Nagar police station. Rahul Dravid had invested Rs 20 crore in the wealth management company in 2014, after being assured of higher returns. However, the cricketing great claimed that he was not even given back the principal amount he had invested in Vikram Investments along with the promised returns.
Vikram Investments has been in the news for cheating hundreds of investors for a combined amount of around Rs 350 crore. The fraud was first reported on 3 March when one of the investors filed a complaint with police that he was duped of Rs 11.74 crore by the wealth management company.
So far, the police have arrested five people in this connection, including Raghavendra Srinath, the managing director of Vikram Investments.
The police have received around 250 complaints from investors and are seeking court permission to interrogate the arrested. The money has been siphoned off to foreign countries, claimed the police.
Various investors like Rahul Dravid were lured to make their investments with Vikram Investments after they were offered highly attractive annual returns of 40-50%. Apart from Rahul Dravid, badminton stars Saina Nehwal and Prakash Padukone have also been reported to have been duped by the company.
Apparently, one of the managers of Vikram Investments – Sutram Suresh, who is behind the bars is an ex sports journalist. It has been reported that Sutram Suresh played a key role in getting the investments from the sports personalities.