Rahul Dravid filed a police complaint against a Bengaluru-based wealth management firm alleging that the firm duped him of his investment.
According to reports, the former Indian cricketer said that he invested Rs 20 crore in the company identified as Vikram Investments with hope of higher returns but the company paid him only Rs 16 crore.
Quoting deputy commissioner of police of Bengaluru central division Dr Chandragupta, The Indian Express reports, â€œRahul 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.â€
Dravid is one of the many victims of a scam estimated to be worth between Rs 300 and Rs 500 crore. Reports say that Vikram Investments has also defrauded over 800 investors.
The scam came to light on 3 March when one of the investors â€“ a businessman â€“ filed a complaint against the firm over cheating him of Rs 11.74 crore
Bengaluru police have arrested five people in connection with the scam. The arrested include the managing director of the firm Raghavendra Srinath. One of those arrested is a former sports journalist who convinced Dravid and other sportspersons to invest in the company.
Reports say that Saina Nehwal, too, is one of the investors in the firm. She has not yet filed a complaint.
Following the arrest of the accused, many others lodged complaints with the police. Seeking more time for interrogation, the police told a court that the accused had diverted funds to foreign countries which had to be traced to ensure recovery.