Bengaluru Scammer Duped Women Out of ₹30 Crore Using Kitty Parties and False Investments
A 49-year-old woman, Savita G., and her accomplice, Puneet P., have been arrested in Bengaluru for a ₹30 crore fraud. They exploited women's social circles through kitty parties, promising high returns on investments in gold, real estate, and media contracts.
FraudKitty PartyReal EstateInvestmentsBengaluruReal EstateJul 13, 2025
Victims, some of whom invested more than ₹95 lakh, were pressured into making cash and digital transfers over several years. Puneet facilitated the conversion of the funds into gold or household items, while Savita quietly ran an informal chit-fund operation. The scam unraveled when the promised returns failed to materialize, leading nearly 30 women to file multiple FIRs at Govindarajanagar and Basaveshwaranagar police stations.
A Sophisticated Network Operating Within Trusted Circles
Police sources reveal that Savita used morning walks and social media to identify financially well-off women and invite them to investment opportunities. She lured victims with grand promises, including gold import deals from Dubai, property ventures, and exclusive TV tenders like “Udaya TV.” Evidence includes photographs with politicians and celebrities, which she used to bolster her credibility.
Authorities are now tracing financial trails, freezing assets, and conducting forensic audits of bank records and gold transactions to determine the full extent of the scheme. Savita had prior charges but continued her operations after securing bail, highlighting how quickly trust can be exploited.
Community Trust, Legal Complications, and Investor Vigilance
Breaking the Social Shield
This case highlights how informal settings like kitty parties can become fertile ground for financial exploitation. Personal relationships often overshadow corporate due diligence, making it easier for fraudsters to manipulate social trust and references to political connections. Victims often feel ashamed and delay reporting, which can allow the scam to continue.
Layered Legal Barriers
Despite earlier FIRs, Savita's legal issues were delayed due to court-ordered stays that allowed her to return and resume her fraudulent activities. Authorities are now pushing for expedited hearings and greater cooperation between police and financial regulators to prevent prolonged exploitation.
What Happens Next?
Savita and Puneet are currently in a five-day custodial remand. Police plan to trace other named accomplices, including Satish, Valmika, Darshan, Lokesh, and Shridhar, and recover the diverted funds. Investigators recommend that potential investors verify proposed investments through documentation, corporate channels, and cross-checking credentials, even in trusted gatherings. Increased financial literacy workshops and stricter enforcement of chit-fund regulations are being proposed to prevent similar scams in the future.
Frequently Asked Questions
Who were the main suspects in the ₹30 crore fraud case?
The main suspects in the fraud case are 49-year-old Savita G. and her accomplice, Puneet P.
How did the scam operate?
The scam operated through women's social circles, particularly kitty parties, where Savita G. lured victims with promises of high returns on investments in gold, real estate, and media contracts.
What were some of the promises made to the victims?
Savita G. promised double returns on investments in gold imports, real estate deals, and private media contracts, including exclusive TV tenders like 'Udaya TV.'
How did the scam come to light?
The scam came to light when the promised returns failed to materialize, leading nearly 30 women to file multiple FIRs at local police stations.
What are the authorities doing to recover the funds and prevent future scams?
Authorities are tracing financial trails, freezing assets, and conducting forensic audits. They are also urging expedited hearings and cooperation between police and financial regulators, and recommending increased financial literacy workshops and stricter chit-fund regulations.
Related News Articles
Hardik Pandya's Net Worth: A Closer Look at His Wealth and Assets
From his lucrative IPL contracts to his impressive real estate portfolio
Boosting Realty Affordability: Experts Call for Policy Shifts and Infra Improvements
Industry experts emphasize the need for policy changes and infrastructure development to address affordability issues in the real estate market.
Pune's Real Estate Empire: Minor's Father in Custody Over Cheating Case
A Pune court has allowed the police to take custody of the father of the minor accused in the Porsche crash case, in a cheating case registered against him at Kondhwa police station.
Revolutionizing Traffic Management: Pune Police, PMC, and Google Collaborate to Improve Road Infrastructure
Pune takes a significant step towards reducing traffic congestion and travel time with the collaboration of Pune Police, PMC, and Google on 32 main roads.
New Developments in Rs 100 Crore Real Estate Investment Fraud
Prospect Realty, a firm registered before the sub-registrar of Salcete, Margao, is at the center of a massive Rs 100 crore investment fraud. The firm, engaged in the real estate business, has been accused of misleading investors with false promises. Myron
Maharashtra Government to Mandate Precast Construction for Mumbai Real Estate
The Maharashtra government is working on a policy to make precast construction mandatory for real estate projects in Mumbai, aiming to streamline construction processes and enhance building quality.