A major breakthrough has been made in a sprawling international investment fraud case, with Kanpur police arresting the alleged mastermind and victims stepping forward to seek justice. The case, which spans India and Dubai, involves staggering sums of money and has left numerous investors in financial ruin.
Victim Confronts Authorities, Details Massive Loss
In a significant development, Vishal Manish Kothiya, a Mumbai resident currently based in Dubai, personally met with Kanpur Police Commissioner Raghubir Lal on Saturday. He lodged a formal complaint alleging that he and his mother were defrauded of a massive Rs 1 crore by Dubai-based Ponzi-scheme operator Ravindra Nath Soni during 2023-24.
Kothiya, who flew in from Dubai specifically for the meeting, informed the Commissioner that Soni had lured them with promises of doubling their investment in a venture called Blue Chip Company. After securing their funds, Soni allegedly fled Dubai, leaving the investors in the lurch. Kothiya revealed to media at the Commissionerate office that his investment amounted to approximately US$ 100,000. The scheme collapsed when the company's offices shut down merely one to two months after he invested, causing him a huge financial loss.
Kanpur Police's Crucial Arrest and Scale of the Scam
The complaint gains critical importance in light of a prior arrest made by the Kanpur authorities. The Commissionerate Kanpur Nagar police had already apprehended Delhi-based businessman Ravindra Nath Soni on December 1. He was subsequently remanded to custody at the Kotwali police station.
Investigations reveal that Soni is not a small-time fraudster but the alleged kingpin of a massive international investment scam. The police allege his network duped hundreds of Indians, both in India and in Dubai, of nearly ₹970 crore. This places the fraud among the most significant financial scams targeting the Indian diaspora in recent times.
Legal Action Intensifies as More Victims Come Forward
Following Kothiya's detailed application, further legal proceedings are being actively pursued under the direct supervision of Police Commissioner Raghubir Lal. Kothiya's action has also encouraged other victims. He stated that he came to Kanpur from Dubai with two other investors after hearing news of Soni's arrest, to formally lodge their complaint.
Expressing hope in the Indian police system, Kothiya said, "We hope that police will catch Soni's syndicate network and help investors like us get our money back." This sentiment underscores the primary demand of all those affected by the sophisticated Ponzi scheme. The case highlights the risks associated with unverified overseas investment opportunities and the determined efforts of the Kanpur police to unravel a complex transnational financial fraud.
