In the labyrinth of global business ventures, some figures emerge who seem to be
shrouded in mystery and controversy. Ram Tumuluri, a Canadian-Indian businessman,
is one such enigmatic persona whose track record has come under intense scrutiny.
Recent revelations surrounding his electric buses deal in India have shed light on a
consistent pattern of running projects into the ground and leaving investors in financial
ruin. This article takes a deep dive into the life and ventures of Ram Tumuluri, exploring
the controversies surrounding him, and revealing the alarming connections he has
made with questionable characters.
The Illusory Promise
Born in Hyderabad, India, to a middle-class family, Ram Tumuluri’s rise in the business
world has been as elusive as it is controversial. Despite claiming to possess
undergraduate and prestigious postgraduate degrees, investigations into his
educational background have exposed these claims as mere fabrications. His modus
operandi of luring investors with seemingly attractive deals, without having the
necessary funds to back them up, is a consistent thread woven throughout his career.
The Indian Debacle
Tumuluri’s ventures in India have been riddled with deception and financial
mismanagement. Establishing the Ayucare brand under Holistic Healthcare, he
purported to revolutionize the country’s wellness industry, but this facade crumbled as
the business folded under the weight of substantial losses. His Indian forays included a
failed investment in the hospitality sector, further cementing his reputation for running
projects into the ground.
The American Misadventure
Tumuluri’s time in the United States was no different, with a series of failed real estate
development projects leading to the dissolution of companies due to failure in filing
annual returns. These ventures mirrored his pattern of obtaining partial funding,
misusing company funds, and leaving a trail of disgruntled creditors.
A Canadian Odyssey of Disillusionment
Canada proved to be another stage for Tumuluri’s deceptive practices, as he
incorporated multiple companies, only for most of them to dissolve due to non-filing of
company accounts. Involved in hotel projects that ended in litigation and defaulted
mortgage payments, Tumuluri displayed a penchant for leaving a wake of disputes and
The Maltese Connection and Tragic Fallout
Tumuluri’s most infamous venture involved the Vital Global Healthcare (VGH) project in
Malta. Having secured contracts for three major hospitals, the project turned into a
catastrophic failure, exposing allegations of corruption with the Maltese government.
Investigative journalist Daphne Caruana-Galizia fearlessly exposed Tumuluri’s murky
background and links to dubious partners, only to meet a tragic end with her
assassination. This chilling incident shed light on the dangers faced by those who dared
to scrutinize Tumuluri’s dubious dealings.
Ties to Questionable Actors
Further investigation revealed unsettling connections between Tumuluri and Russian
actors, particularly his partner in the Indian electric buses deal, Thomas-Christan Seitz.
Seitz’s ties to the Kremlin and Russia’s feared spy agency, the SVR, added a new layer
of intrigue to Tumuluri’s already controversial ventures.
The Mumbai Electric Buses Deal: Another Mirage?
Tumuluri’s latest endeavor, the electric buses deal with Mumbai authorities, appears to
follow the same familiar script. Despite promises of a transformative project, the lack of
tangible assets and technical capabilities raises doubts about the feasibility of the
venture. Concerns over potential fraud and the safety of investors have cast a cloud of
uncertainty over this latest project.
The intricate web of deception woven by Ram Tumuluri spans continents and exposes a
consistent pattern of running projects into the ground and leaving investors high and
dry. His controversial ventures in India, the United States, Canada, and Malta serve as
cautionary tales of the perils of investing without thorough due diligence. As authorities
and the public continue to peel back the layers of this complex enigma, the need for
regulatory oversight and accountability in the business world becomes increasingly
apparent. Unraveling the mystery of Ram Tumuluri is a stark reminder that
transparency, integrity, and responsible business practices are essential for building a
sustainable and trustworthy global economy.