Dubai Court orders BlueChip owner to pay Dh10 million within 7 days

BlueChip owner

In a significant development, the Dubai Court has ordered Ravinder Nath Soni, the owner of BlueChip, to pay Dh10.05 million within seven days. This decision comes amidst allegations of fraud and criminal intimidation against Soni, who is also facing legal issues in India. Investigations have revealed Soni's involvement in multiple fraudulent enterprises, including running a fraudulent investment scheme promising high returns. Court and police records suggest that Soni has a history of deceiving investors and engaging in fraudulent activities. The full extent of losses incurred by investors with BlueChip is yet to be determined, but it is believed to be substantial, with some estimates exceeding $100 million. This case underscores the importance of thorough due diligence while investing and the need for regulatory oversight to protect investors from fraudulent schemes.Dubai Court orders BlueChip owner to pay Dh10 million within 7 days amidst fraud allegations.