Bengaluru man arrested for defrauding businessman of Rs 25 crore through fake casino investment in Sri Lanka

The Basaveshwara Nagar police in Bengaluru Saturday arrested a man who allegedly lured a businessman to invest in casinos in Sri Lanka and cheated him of Rs 25 crore. The accused, Ramakrishna Rao, a resident of Banashankari, is the father of Rahul Thonse, who was previously arrested in a high-profile sandalwood drugs case.

Rao, named as accused 1 in the FIR, was taken into custody, while his son Rahul, listed as accused 4, remains at large. The police suspect he is hiding in Sri Lanka. The case also implicates Rao’s wife Rajeshwari, daughter Raksha Thonse, and son-in-law Chetan Narayan. The accused have been charged under sections 316(2) [criminal breach of trust] and 318(4) [cheating] of the Bharatiya Nyaya Sanhita, along with violations of the Banning of Unregulated Deposit Schemes Act.

According to complainant Vivek P Hegde, a Basaveshwara Nagar resident, the scam occurred between February 7, 2023, and February 4, 2025. Hegde claimed Rao, Rahul, and Raksha lured him and his associates into investing Rs 25.5 crore in a non-existent casino business.

During their initial meeting on February 7, 2023, Rao allegedly stated that Raksha and Chetan owned casino tables at Bellagio Colombo in Sri Lanka, with Rahul overseeing operations. Following multiple conversations with Chetan, Hegde allegedly transferred Rs 30 lakh to Rahul on March 18, 2023.(Indian Express)