Bengaluru Woman Arrested for Rs 20 Crore Fraud via Kitty Parties and Gold Schemes
Savita G, a 49-year-old woman from Bengaluru, was arrested for defrauding her social circle of over Rs 20 crore through fake gold and real estate investment schemes. She infiltrated affluent circles by posing as a social worker, realtor, and gold trader.
FraudGoldReal EstateKitty PartiesBengaluruReal Estate NewsJul 11, 2025
The arrested woman has been identified as Savita G, a resident of Kirloskar Colony in Basaveshwaranagar. She was held along with her alleged accomplice, Puneet P of Sunakadakatte.
The police have registered at least two First Information Reports (FIRs) against Savita at Govindaraja Nagar and Basaveshwaranagar stations. According to officers, she targeted multiple women from financially strong backgrounds and siphoned off crores of rupees under the guise of lucrative investment opportunities.
Investigators revealed that Savita’s strategy involved infiltrating affluent social circles by posing as a social worker, realtor, and gold trader with strong political connections. 'She reached out to women on social media, especially those with active social lives and disposable incomes. Savita claimed she imported gold from abroad and offered to double their money through real estate investments and business ventures,' an investigating officer explained.
Savita frequently hosted kitty parties, either at her residence or other venues, to build trust with potential victims. During these informal gatherings, she would boast about having access to cheap foreign gold, private television tenders, and high-value property deals that promised exceptional returns.
'Many victims were convinced by her confidence and networking abilities. Some handed over cash directly, while others made online transfers. Puneet would then help divert these funds into gold purchases and household goods. In reality, she was quietly operating a chit-fund business in Basaveshwaranagar,' an officer said.
Her fraudulent scheme unraveled when investors began demanding returns after more than a year. Unable to repay the promised amounts or fulfill the guaranteed interest rates, Savita faced mounting pressure from victims. Eventually, nearly 30 women filed police complaints.
A police officer said Savita had taken photos with several politicians, including the chief minister and deputy chief minister, besides film personalities and celebrities. 'A film music director may also be involved in the cheating. We are investigating,' the officer added.
Earlier, a woman had approached Govindaraja Nagar police station alleging that Savita had taken money from her. Then, a notice was served on the accused, who appeared before the police. However, the case was settled after they arrived at a compromise and the victim withdrew the complaint as Savita reportedly settled her money. But no one anticipated that she would have cheated so many people, the officer said.
Frequently Asked Questions
Who was arrested in Bengaluru for fraud?
Savita G, a 49-year-old woman from Kirloskar Colony in Basaveshwaranagar, was arrested along with her accomplice Puneet P of Sunakadakatte.
How much money was allegedly defrauded?
The alleged fraud involved over Rs 20 crore, siphoned from multiple victims through fake gold and real estate investment schemes.
What were Savita G's tactics to gain trust?
Savita G infiltrated affluent social circles by posing as a social worker, realtor, and gold trader with strong political connections. She hosted kitty parties and boasted about lucrative investment opportunities.
How did the fraud come to light?
The fraud unraveled when investors began demanding returns after more than a year. Unable to repay the promised amounts, Savita faced pressure from victims, leading to nearly 30 women filing police complaints.
What is a chit-fund business?
A chit-fund business is a type of rotating savings and credit association where members contribute to a fund, and one member is chosen to receive the total amount each month. Savita was operating such a business in Basaveshwaranagar.
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