In a startling revelation during police remand, Ponzi scam kingpin Ravindranath Soni told investigators that he is now surviving by selling kachoris on a street cart in Dehradun—an unexpected claim that initially left officers skeptical until evidence later supported parts of his statement.
According to SIT officials, Soni made several sensational disclosures, including a claim that he had once negotiated a ₹1.5-crore deal with actor Sonu Sood. He denied having any business agreement with wrestler The Great Khali, stating that Khali was invited only for promotional appearances. Police are now verifying these claims as part of the wider financial investigation.
Soni also named four partners in his alleged blue-chip company—Vibhash Trivedi from Bihar, Hitesh and Mohan from Gujarat, and Suraj from Chennai. Kanpur Police Commissioner Raghubir Lal said that notices will be issued to all of them as the probe has already traced 33 bank accounts linked to the racket.
From Mauritius Registration to a Dubai Office
Interrogation details reveal how Soni built his fraudulent empire. He claimed that the company was first registered in Mauritius, after which he opened a large office in Dubai, attracting politicians, celebrities, and sportspersons to give his operation an air of legitimacy.
Soni recounted his career trajectory: starting as a relationship manager at a private bank in Delhi, moving to sales and marketing in Hyderabad, and later working at RAK Bank in Dubai, earning nearly 10,000 dirhams along with several perks. He then joined an insurance firm, drawing 30,000–40,000 dirhams, before venturing into forex trading and forming a network of sales managers and channel partners.
Personal Background and the Scale of the Scam
Soni, who says he completed a B.Com in Delhi and an MBA from IIPM, comes from a well-placed family. His father served as a section officer in the Ministry of Defence, his younger brother is a doctor at Delhi’s RML Hospital, and his sister lives in Malviya Nagar.
Investigators say Soni admitted to having only around 300 clients, who together invested ₹80–90 crore with him—money he claims to have placed in the stock market. The SIT also questioned him about a woman named Gurmeet, living in the US, suspected of managing some of his financial accounts.
During a confrontation with victims arranged by the SIT, several investors expressed anger and frustration, while Soni reportedly remained silent throughout.
