Fake Lawyers Targeting Bluechip Victims, Indian Police Warn After Fresh Fraud Attempts

(MENAFN- Khaleej Times)

Indian police have warned victims of the BlueChip investment sca to be“extremely cautious” after uncovering attempts by fake lawyers and self-styled recovery agents to exploit desperate investors seeking to recover their lost money.

Speaking to Khaleej Times, Additional Deputy Commissioner of Police (ADCP) Anjali Vishwakarma, who heads the Special Investigation Team (SIT) probing the multimillion-dollar fraud, said individuals with“dubious credentials” in India are approaching victims, claiming they can fast-track refunds or secure court-ordered recoveries in exchange for upfront payments.

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“These people have no authority to represent the police or any court,” Vishwakarma said.“Some even pose for photographs with senior Indian police officers to appear legitimate. Victims must not hand over money to anyone claiming they can recover their funds.”

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She said the SIT has already come across cases in which BlueChip victims paid such individuals after being promised access to frozen assets or confidential case updates.“We urge people to verify credentials directly with the police. Do not trust anyone offering shortcuts,” she added.

The warning mirrors a similar fraud wave previously reported by Khaleej Times in December 2024, when a group of BlueChip victims in Dubai were deceived by men claiming to be from Interpol, CID and the Dubai Courts. Those impostors conducted staged meetings, issued fake legal documents and extracted over Dh3 million dirhams from investors by promising imminent payouts.

Vishwakarma said the latest impersonators appear to be capitalising on the growing number of complaints filed in India and the UAE following the arrest of BlueChip founder Ravindra Nath Soni.

Soni, who is also wanted in Dubai for cheque defaults and investor complaints, was arrested on November 30 after police traced a food-delivery order to his Dehradun hideout. He is currently in remand and undergoing custodial interrogation.

During questioning, police said Soni attempted to downplay his operations, claiming he“ran a kachodi (Indian snack) shop to feed his family” - a statement dismissed by investigators and victims.

Notices served

According to Kanpur Police, the SIT has now traced multiple assets in India and the UAE believed to be connected to the scam.

Police have also served notices to multiple individuals linked to BlueChip promotions, including Bollywood actor Sonu Sood and wrestler The Great Khali, as part of the ongoing inquiry into the company's public-facing strategy. Officers emphasised that such notices do not imply wrongdoing and are part of standard investigative procedure.

Vishwakarma reiterated her warning to victims in both India and the UAE:“Please do not fall prey to anyone offering quick recoveries. Do not transfer money, do not sign documents, and do not share personal information without verifying with us. We are receiving complaints of people being approached again. We urge everyone to be vigilant.”

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