Archive · 12 Dec 2025
Dubai Investors Fly to India to Lodge Complaints in BlueChip Scam
Some people from Dubai who invested money in a company called BlueChip are very upset because the company turned out to be a scam.
The founder, Ravindra Nath Soni, promised them good returns but instead took their money and ran.
The police in India have arrested Soni, and some investors have flown to India to file complaints.
They want their money back.
The company promised 3% monthly returns but collapsed in March 2024.
Soni is also wanted in Dubai for other complaints.
The police are investigating and have found many bank accounts and companies linked to Soni.
Dubai-based investors are flying to India to lodge complaints against BlueChip founder Ravindra Nath Soni.
Soni was arrested by Kanpur Police on 30 November 2025 from his Dehradun hideout.
Investors claim they lost significant amounts of money, with one investor losing 1.2 million dirhams.
BlueChip allegedly defrauded investors of 400 million dirhams and collapsed in March 2024.
Police have found 26 Indian bank accounts, 8 cryptocurrency wallets, and 20 companies linked to Soni.
- Who
- Dubai-based investors and Ravindra Nath Soni, founder of BlueChip
- What
- Investment scam involving BlueChip
- When
- Company collapsed in March 2024, Soni arrested on 30 November 2025
- Where
- Kanpur, Uttar Pradesh, India
- Why
- Investors seek to recover their money after the scam
- Scam Amount
- 400 million dirhams
- Founder Arrested
- Ravindra Nath Soni
- Investors Affected
- At least six UAE-based investors
- Police Remand
- Six-day remand for Soni
- Investigation Details
- 26 Indian bank accounts, 8 cryptocurrency wallets, 20 companies linked to Soni
- Company Collapse
- March 2024
- Cryptocurrency Transfer
- $41.35 million transferred to an unknown wallet
- Arrest Location
- Dehradun hideout