Bengaluru: The Bengaluru police confirmed a Ponzi scheme on Tuesday, that has claimed nearly 800 hi-profile investors.
The hi-profile victims includes popular sports athletes - cricketer Rahul Dravid, and ace shuttlers - Prakash Padukone and Saina Nehwal.
Vikram Investment Agency, an investment company, allegedly promised these hi-profilers 15% returns on their investments. Sports athletes and celebrities were made to sign papers that promised them huge returns on their investments.
The scam was reported after PR Balaji, owner of Balaji Agarbatthi company complained of being duped of Rs 12 crore.
The Bengaluru Police has so far nabbed Raghavendra Sreenath, the brain behind the scheme, and his accomplices- Sutram Suresh, Narasimhamurthy, KC Nagaraj and Prahalad. Currently documents are being verified, and the alleged culprits have been booked to a 14 day police custody.
The victims are yet to open up on their losses, but but according to Police sources, the size of the scam is estimated at Rs 300 crore.