Bizman & family booked for Rs 25cr fraud

Bengaluru: A businessman, who was arrested five years ago in an infamous drug-peddling case involving Sandalwood stars, has landed in police custody again. He, his parents, sister, and brother-in-law have been accused of duping a businessman and his friends of Rs 25 crore, promising higher returns on their investment in casinos and Bitcoins.
According to the FIR, businessman Rahul Tonse, his father Ramakrishna Rao, mother Rajeshwari Rao, sister Raksha Tonse, and her husband Chetan Narayan are the accused. Ramakrishna has been arrested and taken into six days of police custody.
Vivek P Hegade, 47, a businessman from Basaveshwaranagar, told police that the accused cheated him of Rs 3.5 crore and his friends of about Rs 22 crore. According to Hegade, Ramakrishna met him through a common friend in Feb 2023. Ramakrishna said he is into investing in casinos and Bitcoins, and offered Hegade 4% monthly return on investments. He claimed that Rahul, Raksha, and Chetan were looking after his business.
The accused also got Hegade's friends to invest. By the end of 2024, about Rs 30 crore was handed over to the accused in the form of investment and reinvestment. The investors' requests for refund has been allegedly met with dire threats.
"The accused have repaid some portion of the money received. According to the complainant, the accused have conned them of about Rs 25 crore," an investigating officer said.