Bengaluru Woman Arrested For Duping Friends In Multi-Crore ‘Kitty Party’ Fraud And Promising 4X Returns News24 –

A 49-year-old Bengaluru-based woman was arrested for allegedly duping 20 of her friends to the tune of crores of rupees after posing as a close associate of politicians and making a profit in investment schemes, police said.

The women used to ask their friends to buy gold from Dubai at lower prices and get three to four times higher profit. The arrest came after a woman reported the fraud to police. Police said the woman has been identified by her single name, Savita, a resident of Bengaluru.

The victim, Kusuma, who is a widow and lives with her parents and a son in Bengaluru, alleged that in 2023 she received a call from Savita, whom she had been in touch with for several years. “Kusuma was informed about an investment deal in which she can multiply her amount four times after investing in gold. Savita informed them that her husband was employed in Dubai, and after buying gold for two years at a cheap price, she could get more return,” said the police.

As Kusuma had trust in Savita, she agreed to invest and transferred her lifelong savings of around Rs 24 lakh in multiple payments.

“On January 26, 2024, Savita called me and said she had invested in the Udaya TV project and gave me double the money I had invested. She then again asked me to invest another Rs 10 lakh and once again made the promise of assured returns. I trusted and gave Rs 10 lakh in cash,” the FIR read, as quoted by NDTV.

Subsequently, when she asked for her profits, Savita refused to return them and threatened dire consequences. Left with no other options, she approached police and filed a complaint on July 8. She named seven people, including Savitha, Punith, Sathish, Valmika, Darshan, Lokesh, and Shridhar.

The Basaveshwara nagar police have detained Savita on suspicion of scamming over 20 women in a multi-crore scam. She used morning strolls to find and make friends with rich and powerful ladies. She then invited them to cat parties and other events where she offered them investment opportunities in India and elsewhere.