Dubai Court of First Instance has ordered BlueChip owner Ravinder Nath Soni to pay Dh10.05 million to a cheque execution applicant or the court treasury within seven days. Failure to comply will result in legal action.
Soni, whose current location is unknown, is under extensive investigation for allegedly disappearing with millions in investor funds.
"We haven’t heard from him in weeks," said company PRO Sandeep Raj.
The court order on May 27 follows a similar case last year when Soni was ordered to pay Dh2.05 million to another investor. Investigations reveal Soni's involvement in multiple fraudulent enterprises, including charges of fraud, forgery, breach of trust and criminal intimidation in India.
Court records show his 2022 arrest in India for running a fraudulent investment scheme. He was released on bail by a court in Aligarh, Uttar Pradesh, along with a co-accused. Another complaint from 2019 in Panipat, Haryana, accuses Soni of deceiving an investor and threatening him with death when he demanded his money back.
Soni was a manager at Acme Management Consultancy and Acme Global General Trading between 2018 and 2020, firms involved in similar schemes that led to substantial investor losses.
Dubai resident Priti Rakesh Phillips and her family lost Dh39 million through Acme. Dubai Public Prosecution has issued an international arrest warrant for Acme's owner, Sundernath Dash, who fled the UAE. Additionally, assistant manager George Veliyath has been ordered to pay Priti Dh11.3 million and Dh27.8 million to a company owned by her family.
Inputs from Khaleej Times
Bluechip Computer Systems LLC and Bluechip Real Estate Brokers are not associated with the BlueChip Group mentioned in the article.