Indian authorities have apprehended Ravindra Nath Soni, the alleged architect behind one of the UAE’s most substantial investment fraud schemes, following an intensive 18-month international manhunt. The decisive breakthrough occurred in Dehradun, Uttarakhand, when police traced a food delivery order to his concealed location on November 30.
Soni, owner of the collapsed BlueChip Group, faces multiple fraud allegations after his company abruptly ceased operations in March 2024, leaving hundreds of UAE investors facing collective losses estimated to exceed $100 million. The company had promised investors 36% annual returns through various investment verticals, including a cryptocurrency token launched with celebrity appearances.
Kanpur Nagar Additional Deputy Commissioner of Police Anjali Vishwakarma confirmed the unusual apprehension method, stating: “He was caught through a food-delivery order. This is a big catch.” The arrest comes after a Delhi resident filed a formal complaint in January, alleging Soni had defrauded his family of Dh4 million with promises to double their investment within three years.
Legal proceedings have commenced with Soni’s bail plea rejected on Wednesday as investigators work to trace the complex money trail. Authorities revealed that Soni had transferred $41.35 million to an unidentified cryptocurrency wallet shortly before BlueChip’s collapse.
The case demonstrates transnational jurisdictional complexities. Dubai-based legal consultant Farhat Ali Khan explained that while multiple complaints have been filed in UAE courts, Indian law under Section 48 of the Bharatiya Nyaya Sanhita, 2023, enables prosecution in India for offenses committed abroad.
For affected investors, the arrest brings mixed emotions. While relieved that Soni is in custody, many express skepticism about financial recovery. An Excel spreadsheet shared with investigators reveals approximately $17 million in losses from just 90 individuals, though victims estimate the actual total is significantly higher with investors spanning from Japan to Pakistan.
Investors now face a protracted legal battle as authorities widen their investigation into what many describe as a sophisticated “double-your-money” scheme that utilized celebrity endorsements and business awards to gain credibility.