Ravindra Nath Soni, the Indian-origin fugitive and owner of the Dubai-based BlueChip Group, has been captured in India. He was the prime suspect in one of the UAE’s largest investment scams, and his arrest concludes an 18-month global manhunt.
The Kanpur police announced on Monday that Soni, 44, was apprehended on November 30, 2025, in Dehradun, Uttarakhand, where he had been in hiding, according to Indian media. A reward of Rs10,000 had been offered for information leading to his capture.
At a press conference, Kanpur Nagar’s Additional Deputy Commissioner of Police (ADCP) Law & Order, Anjali Vishwakarma (IPS), hailed the arrest as a “major breakthrough”. She detailed how a specialized team used technical and human surveillance to locate Soni, leading to a raid on his Dehradun hideout and his transfer to Kanpur.
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“Soni scammed numerous victims by promising substantial monthly returns through his Dubai-based company BlueChip. With a history of three previous fraud cases, we are now tracing the financial trail to seize all related bank accounts and assets,” Vishwakarma told the press.
Local TV footage displayed Soni flanked by police officers as he was presented to the media. Watch here:
The arrest follows more than a year after Khaleej Times initially exposed the BlueChip collapse through investigative reports starting in June 2024, when a warrant was issued by the Dubai Court of First Instance due to Soni’s failure to settle Dh10.05 million with a cheque-holder.
BlueChip, operating from the Al Jawhara Building in Bur Dubai, offered investors a 3% guaranteed monthly return (36% annually) on a minimum $10,000 investment locked for 18 months. The scheme collapsed in March 2024, suddenly halting payments and leaving hundreds of UAE residents, many Indian expats, with losses estimated over $100 million (Dh367 million).
Among the Indian victims is Abdul Karim, whose son works in Dubai. In 2021, a BlueChip sales agent allegedly promised to double their investment in 36 to 46 months. Police reported that Soni convinced the family to invest in schemes in India, with their total investment reaching Dh185,000. Soon after, Soni became unreachable, and the company’s website vanished, leading the family to file a fraud complaint.
Investors received bounced cheques, the office was deserted overnight, and Soni disappeared with senior staff.
Khaleej Times investigations revealed BlueChip as the latest in a series of fraudulent ventures by Soni from the same Bur Dubai location. Between 2018 and 2020, he ran Acme Management Consultancy and Acme Global General Trading, which similarly vanished after allegedly embezzling millions from investors.
Court documents accessed by Khaleej Times show that in 2023, a Dubai court ordered Soni to repay Dh2.05 million to another victim. In India, he was arrested in 2022 in Aligarh for a “double-your-money” scheme and faces separate fraud and intimidation charges in Panipat, Haryana.
In May 2024, Khaleej Times reported that BlueChip transferred $41.35 million to an unknown cryptocurrency wallet just before closing. Separately, Cyprus-based MetaQuotes terminated its agreement with BlueChip in 2023, citing “fraudulent practices”.
“This is a significant relief, but the struggle continues until our money is recovered,” said one Dubai-based investor who lost Dh1.2 million.
