Malur (Karnataka). A large-scale alleged gold fraud case has surfaced in Malur town, where a man is accused of cheating around 180 women through a WhatsApp-based jewellery scheme and escaping with ornaments and cash worth nearly ₹8 crore. The incident has triggered concern among local residents, and a formal police complaint has been filed seeking immediate action and recovery of the valuables.
According to initial reports, the accused operated a jewellery business under the name Ramdev Jewellers located in Maruti Layout’s Venkateshwara Aswathre Road area. The man, identified as Bundaram, originally hails from Rajasthan and had earlier worked at Solanki Jewellers for nearly 15 years before setting up his own shop.
The Bait: WhatsApp Marketing and Discounted Schemes
Police sources said the accused allegedly built trust among local women customers by offering attractive deals on gold ornaments. He is said to have promoted a scheme promising low-cost jewellery and reduced wastage charges in exchange for old gold exchange and advance payments.
To expand his reach, the accused reportedly created a WhatsApp group consisting of around 180 women from the locality. Through this group, he regularly shared images of new jewellery designs and promotional offers, convincing members that they were getting gold at highly discounted rates compared to market value.
Over time, many women allegedly handed over their valuables, including mangalsutras, thalis, earrings, and other gold ornaments. Some victims also reportedly made additional payments through credit cards and bank transfers, believing they were investing in a legitimate jewellery purchase scheme.
Sudden Disappearance and Public Outcry
However, after collecting the ornaments and money, the accused allegedly shut down operations abruptly. Locals said he has not been seen at his shop since last week, and his mobile phone has also been switched off. This sudden disappearance raised suspicion among customers, who later realized they may have been cheated.
As the news spread, several affected women gathered and approached the local police station, submitting a collective complaint demanding the arrest of the accused and recovery of their jewellery and funds. Police have begun preliminary inquiry into the matter and are verifying transaction details, customer records, and communication data from the WhatsApp group.
Investigators believe the case may involve a planned fraud mechanism where trust-building, social media marketing, and bulk collection of gold assets were used as key tools. Cyber and financial experts are also being consulted to trace digital footprints and financial flows linked to the accused.
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The Rise of Hybrid Scam Models
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh has warned that such hybrid fraud models combining offline trust and online coordination are becoming increasingly common. He noted that criminals are now using social messaging platforms to scale traditional cheating methods into large community-based scams.
He said, “Fraudsters are leveraging WhatsApp groups and social trust networks to create a perception of legitimacy. When a trusted local jeweller or known face is involved, victims rarely verify the authenticity of offers. This psychological trust becomes the strongest weapon in such scams.”
He further added that once gold or money is collected, the accused often disappears or routes assets through multiple channels to avoid recovery, making such cases difficult to resolve without rapid digital tracing.
Police Warnings and Asset Tracing
Police officials have urged citizens to exercise caution while dealing with informal investment or discount-based gold schemes circulated on messaging apps. They emphasized that genuine jewellers operate under verifiable billing systems and regulated pricing, and any unusually high discounts should be treated as a warning sign.
Authorities are currently tracing the accused’s movements and examining whether he may have used multiple bank accounts or intermediaries to move the allegedly collected funds. Efforts are also being made to assess the total value of gold and cash involved in the case.
The incident has created widespread anxiety in Malur, especially among women who participated in the WhatsApp group. Investigations are ongoing, and police have assured that all possible legal and technical steps will be taken to recover the stolen assets and bring the accused to justice.
