Fraudulent Scheme Uncovered in Bengaluru

A major fraud case has emerged in Bengaluru, involving a 49-year-old woman named Savita G and her accomplice, Puneet P. The duo has been accused of defrauding over 30 individuals, primarily women from affluent backgrounds, out of more than Rs 5 crore. The fraudulent activities were centered around the promise of high-return investments in gold imports and real estate, which were presented as lucrative opportunities during social gatherings known as kitty parties.

Kitty Parties as a Tool for Deception

Savita G cleverly used kitty parties, a popular social event among women, to gain the trust of her victims. These gatherings provided her with the perfect platform to present her investment schemes as credible and profitable. By leveraging the informal and friendly atmosphere of these parties, she was able to convince many women to invest significant sums of money into what turned out to be a fraudulent chit-fund business.

The Modus Operandi of the Fraud

The scheme operated by Savita involved making false claims about the potential returns from investments in gold imports and real estate. She assured her victims that their money would double in a short period, a promise that proved too tempting for many to resist. Her accomplice, Puneet P, played a crucial role in executing this plan by assisting in managing the logistics and finances of the operation.

Impact on Victims and Legal Proceedings

The victims of this fraud are primarily women who were part of Savita’s social circle. Many have suffered significant financial losses, impacting their personal and family lives. The arrest of Savita G and Puneet P marks the beginning of legal proceedings against them. Authorities are now investigating the full extent of the fraud and working to recover the lost funds.

Broader Implications for Financial Awareness

This case highlights the importance of financial awareness and caution when considering investment opportunities. It serves as a reminder to thoroughly vet any investment schemes and remain skeptical of promises that seem too good to be true.