Former Indian cricketer Rahul Dravid has lodged a complaint with police in Bengaluru against a private investment firm for allegedly cheating him of Rs 4 crore. Dravid’s complaint with the Sadashivanagar police in central Bengaluru comes on the heels of dozens of complaints of fraud filed against Vikram Investments by investors from the across the city over the past couple of weeks.
“Rahul Dravid has filed a complaint at the Sadashivanagar police station against a private investment firm regarding an investment of Rs 4 crore made in 2017. We are verifying the details,’’ the deputy commissioner of police of Bengaluru central division Dr Chandragupta said.
The former Indian cricketer has alleged in his complaint that he made the investments at the behest of one of the agents of the firm, Sutram Suresh, a former sports journalist, who is among five people linked to Vikram Investments and has been arrested.
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. Suresh, who was produced in court last week, said investments worth Rs 34 crore made by him in Vikram Investments had been defrauded by the owner of the company Raghavendra Srinath and others.
Vikram Investments has been accused of fraud by several people, who said the firm lured high-net worth investors with offers of 40 to 50 per cent annual returns on their principal amounts. 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.
The alleged case of cheating against the decade-old firm emerged after an investor P R Balaji, 48, the owner of an agarbatti company, filed a complaint before Banashankari police on March 3, accusing Vikram Investments of cheating him of Rs 11.74 crore. Since the complaint was filed by Balaji, dozens of other investors have also approached the police.
Badminton start Saina Nehwal, who is also reported to have invested in the firm, has not lodged any complaint till now. According to police, the owner of the firm has diverted funds to foreign countries. Advocates for the agents told the court last week that they worked purely on a commission basis and that the misappropriation was carried out by the proprietor Raghavendra Srinath, with whom all the funds were vested.