Kolar (Karnataka): A suspected work-from-home investment scam involving more than ₹100 million (₹10 crore) has come to light in Karnataka’s Kolar district, where hundreds of investors staged a protest outside the office of a private company, alleging they were cheated after being promised attractive monthly earnings for home-based packing work.
According to the complainants, Sri Kalikadevi Enterprises began operations about a year ago in Palasandra Layout, Kolar, offering people work-from-home opportunities involving the packing of incense sticks, camphor, paper plates, and paper cups. The company allegedly promised regular monthly salaries based on the amount invested and collected security deposits ranging from ₹100,000 to ₹3 million from individual investors.
Victims alleged that the company initially made salary payments for nearly a year, creating confidence among participants and encouraging more people to invest. It later expanded its operations by opening branches in Budikote, Malur, and other parts of Kolar district. Complainants claim that nearly 2,000 to 3,000 investors joined the scheme, with the total alleged investment exceeding ₹100 million.
According to investors, payments stopped completely over the past two months. When they approached the company’s office seeking clarification, they allegedly received no satisfactory response. They further claimed that several employees had disappeared and that the office had been virtually abandoned.
On Monday, a large number of investors gathered outside the company’s office carrying their investment bonds and supporting documents, demanding the immediate return of their money. Many alleged that they had invested their life savings, while others said they had borrowed funds after trusting the company’s promises of steady monthly income.
Amid the growing protests, the company’s manager, identified as Ramya, reportedly met officials at the Kolar Superintendent of Police’s office and the Deputy Commissioner’s office, requesting one week’s time to settle the outstanding dues. According to complainants, she assured authorities that investors’ money would be repaid.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said fraudsters are increasingly using work-from-home opportunities, easy-income schemes, and promises of guaranteed monthly returns to lure victims into making large investments. He advised the public to independently verify a company’s registration, business model, and regulatory credentials before depositing security money or investing in any scheme, adding that offers promising unusually high or guaranteed returns should always be treated with caution.
Representatives of the Karnataka Rakshana Vedike and affected investors have urged police to conduct a comprehensive investigation, recover the alleged losses, and initiate stringent legal action against those responsible. Authorities are currently examining financial transactions, investment records, and company documents. As of now, no arrests have been officially confirmed in connection with the case.
