Sonu Sood and The Great Khali summoned for 1500 crore fraud through Dubai BlueChip company, police starts action.

Bollywood actor Sonu Sood and WWE wrestler The Great Khali have been summoned by the police for questioning in the Blue Chip Scam case. It is alleged that both of them increased the trust of the people by participating in the programs and promotional campaigns of the accused company, while the company is accused of defrauding crores of rupees.

What is blue chip scam?

According to the Kanpur Police and the Special Investigation Team (SIT), the case pertains to a huge investment/Ponzi scheme, which was run by the main accused Ravindra Nath Soni through “blue chip” companies. By luring investors with monthly returns of 30-40 percent, crores of rupees were deposited from expatriates from India and abroad, especially Dubai.

According to the information revealed so far, this fraud can range from Rs 970 crore to Rs 1,500 crore, in which hundreds to thousands of investors are said to be victims. Police have started investigation into more than 20 fake/shell companies, more than 20 bank and crypto accounts and transactions done abroad.

What questioning will be done to Sonu Sood and Khali?

According to the Kanpur Police Commissioner, notices will be sent to Sonu Sood and The Great Khali asking on what conditions they participated in promotions or programs for the blue-chip company. The investigating agencies want to understand whether their relationship was limited to branding/events only or there was some kind of financial partnership or information also.​

According to some reports, from the statements and video-photos of the victims, the police came to know that many people trusted the company and invested money after seeing these same celebrities on stage or in promotional materials. Initial reactions on social media are that even if the celebrities themselves were duped, a large number of investors got trapped by using their faces.

Current status of investigation

The main accused Ravindra Nath Soni was recently arrested from Dehradun and interrogation is going on after getting police remand approved by the court. The SIT is investigating his cryptocurrency dealings, hawala trail, luxury properties and companies abroad to ascertain the entire amount and location of the defrauded money.

Police say that this network may be spread in many states of India and many countries including Japan, Dubai, hence international agencies are also being contacted. As the investigation progresses, the possibility of action or inquiry against more big names is not being ruled out.