Rahul Dravid duped of Rs 4 crore by ponzi firm, files complaint

File photo of Rahul Dravid. Photograph:( Zee News Network )

WION Web Team New Delhi, Delhi, India Mar 18, 2018, 12.59 PM (IST)

Former Indian cricketer Rahul Dravid on Sunday filed a complaint against a Bengaluru-based wealth management firm for duping him of Rs 4 crore. 

In his complaint, Dravid claimed 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.

As per media reports, there are several other bigwigs who invested their money in the firm but were duped. 

However, Dravid is the first to have come on record to file the complaint.