BENGALURU: Bengaluru police have arrested 49-year-old Savita G. and her accomplice, Puneet P., in connection with a massive ₹30 crore fraud that exploited trust within women’s social circles. Through regular kitty parties held at her residence and upscale venues, Savita attracted over 30 affluent women, promising double returns via purported gold imports, real estate deals, and private media contracts. Investigators say she masqueraded as a social worker, gold trader, and realtor with political connections—referencing meetings with the Chief Minister and film personalities—to win credibility.
Victims, some of whom invested upwards of ₹95 lakh, were pressured into cash and digital transfers over several years. Puneet then helped convert this money into gold or household purchases, while Savita quietly developed an informal chit-fund operation. The scam collapsed when returns failed to materialise, prompting nearly 30 women to file multiple FIRs at Govindarajanagar and Basaveshwaranagar police stations.
A Sophisticated Network Operating Within Trusted Circles
Police sources say Savita leveraged morning walks and social media to identify financially well-off women and extend investment invitations. They discovered victims were lured by grand promises, including import deals from Dubai, property ventures, and exclusive TV tenders like “Udaya TV.” Evidence includes photographs with politicians and celebrities, used to reinforce her credibility.
Authorities are now laundering financial trails, freezing assets, and conducting forensic audits of bank records and gold transactions to map the scheme’s true scale. Savita had prior charges, but continued her illicit operations after securing bail—an action that police say shows how quickly trust can be weaponised.
Community Trust, Legal Complications, and Investor Vigilance
Breaking the Social Shield
This case underscores how informal settings like kitty parties can be fertile ground for financial exploitation, as personal relationships overshadow corporate due diligence. Investigators warn that when fraudsters manipulate social trust and references to political connections, victims often feel ashamed and delay reporting.
Layered Legal Barriers
Despite earlier FIRs, Savita’s legal entanglements were stalled due to court-ordered stays that allowed her to return and resume fraudulent activities. Authorities are now urging expedited hearings and cooperation between police and financial regulators to prevent prolonged exploitation.
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What Happens Next?
Savita and Puneet are currently in a five-day custodial remand. Police plan to trace accomplices named in FIRs, Satish, Valmika, Darshan, Lokesh, and Shridhar, and recover diverted funds. Investigators recommend that victims verify proposed investments via documentation, corporate channels, and cross-check credentials, even in trusted gatherings. Increased financial literacy workshops and stricter enforcement of chit-fund regulations are being proposed.
About the Author – Sahhil Taware is a B.Sc. LL.B. (Hons.) student at National Forensic Sciences University, Gandhinagar, with a keen interest in corporate law and tech-driven legal change.