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Bengaluru woman uses kitty parties to scam ₹5 crore from 30 women with fake gold, real estate deals
Bengaluru police now believe the entire setup functioned like an unregulated chit fund, operating quietly out of Basaveshwaranagar.
A Bengaluru woman who blended charm, social smarts, and well-crafted lies is at the centre of a ₹5 crore scam that has rocked two neighbourhoods.
According to a report by Times of India, Savita G, 49, a resident of Kirloskar Colony in Basaveshwaranagar, allegedly targeted affluent women through what seemed like harmless kitty parties, but turned out to be a front for a calculated financial con.
Savita, now in police custody along with her associate Puneet P, is accused of luring nearly 30 women into investing large sums of money under the guise of gold imports, real estate ventures, and private media contracts, the repory further added.
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Police say the duo leveraged social media, elite gatherings, and flashy promises to gain the trust of their victims, most of whom were drawn from financially secure and socially active circles.
According to investigators, Savita styled herself as a social worker, realtor, and gold trader with political influence.
"She claimed she had access to imported gold at cheap rates and offered investors lucrative returns, sometimes even promising to double their money," said a senior police officer according to TOI.
The deception was carefully staged at kitty parties, held at Savita’s home or upscale venues, where she showcased her connections and business acumen. Victims were convinced not just by her pitch, but also her confidence and apparent lifestyle.
According to the publication, some handed over cash, others made online transfers, while Puneet reportedly helped route the money into various personal purchases, including gold and household items.
Police now believe the entire setup functioned like an unregulated chit fund, operating quietly out of Basaveshwaranagar. The scheme began to unravel when investors, after more than a year of waiting, started pressing for returns. When Savita failed to deliver, complaints began pouring in at Govindarajanagar and Basaveshwaranagar police stations.
Two FIRs have been registered so far. The local court has remanded both accused in five-day police custody for further investigation, the report further added.
