Indian authorities have escalated warnings to victims of the massive BlueChip investment scam after uncovering a sophisticated secondary fraud scheme targeting desperate investors. According to Additional Deputy Commissioner of Police Anjali Vishwakarma, who leads the Special Investigation Team (SIT), individuals with dubious credentials are approaching victims with promises of accelerated fund recovery in exchange for upfront payments.
The elaborate deception involves perpetrators posing as legal representatives and recovery agents who falsely claim authority to fast-track refunds or secure court-ordered recoveries. Some have even staged photographs with senior police officials to enhance their credibility. Vishwakarma emphasized that these individuals possess no legitimate authority to represent law enforcement or judicial bodies.
This development represents a disturbing echo of previous fraudulent activities documented in December 2024, when impostors posing as Interpol, CID, and Dubai Courts officials extracted over Dh3 million from BlueChip victims through fabricated legal documents and staged meetings.
The recent warning follows the November 30 arrest of BlueChip founder Ravindra Nath Soni, who was apprehended at his Dehradun hideout after police traced a food delivery order to his location. During custodial interrogation, Soni allegedly attempted to minimize his involvement by claiming to operate a simple snack shop, a statement investigators and victims have vehemently dismissed.
Kanpur Police confirm the SIT has identified multiple assets in India and the UAE connected to the original scam. As part of the expanding investigation, notices have been served to several individuals associated with BlueChip’s promotional activities, including Bollywood actor Sonu Sood and wrestler The Great Khali. Authorities stress these notices represent standard investigative procedure and do not imply wrongdoing.
Vishwakarma reiterated her urgent advisory to victims across both nations: “Exercise extreme vigilance against anyone offering rapid recovery solutions. Refrain from transferring funds, signing documents, or sharing personal information without direct verification through official channels. We continue to receive reports of these predatory approaches and implore victims to remain cautious.”