Malur Gold Fraud: WhatsApp Scam Cheats 180 Women Out of ₹8 Crore in Jewellery
In a troubling incident from Malur, Karnataka, a significant gold fraud case has emerged, with a man accused of defrauding approximately 180 women through a WhatsApp-based jewellery scheme. The alleged perpetrator absconded with jewellery and cash valued at nearly ₹8 crore, prompting local residents to express their concerns and file formal police complaints for immediate action and recovery of their assets.
The accused, identified as Bundaram, operated a jewellery business named Ramdev Jewellers in the Maruti Layout area on Venkateshwara Aswathre Road. Originally from Rajasthan, Bundaram had previously worked at Solanki Jewellers for nearly 15 years before establishing his own enterprise.
The Bait: WhatsApp Marketing and Discounted Schemes
According to police sources, Bundaram built trust among local women by offering enticing deals on gold ornaments. He promoted a scheme that promised low-cost jewellery and reduced wastage charges in exchange for old gold and advance payments.
To broaden his customer base, he created a WhatsApp group comprising around 180 women from the locality. Within this group, he frequently shared images of new jewellery designs and promotional offers, convincing members that they were acquiring gold at significantly discounted rates compared to market values.
Over time, many women reportedly surrendered their valuables, including mangalsutras, thalis, earrings, and other gold items. Some victims also made additional payments via credit cards and bank transfers, believing they were participating in a legitimate jewellery purchase scheme.
Sudden Disappearance and Public Outcry
However, after collecting the ornaments and funds, Bundaram abruptly ceased operations. Locals reported that he had not been seen at his shop since last week, and his mobile phone was switched off. This sudden disappearance raised suspicions among customers, leading them to realize they might have been victims of fraud.
As news of the incident spread, affected women gathered and approached the local police station, filing a collective complaint demanding the arrest of the accused and recovery of their jewellery and funds. The police have initiated a preliminary inquiry into the matter, verifying transaction details, customer records, and communication data from the WhatsApp group.
Investigators suspect that the case may involve a calculated fraud mechanism, utilizing trust-building, social media marketing, and bulk collection of gold assets as key strategies. Cyber and financial experts are being consulted to trace digital footprints and financial flows associated with the accused.
The Rise of Hybrid Scam Models
Cybercrime expert and former IPS officer Prof. Triveni Singh has highlighted that hybrid fraud models, which combine offline trust with online coordination, are becoming increasingly prevalent. He noted that criminals are leveraging social messaging platforms to scale traditional cheating methods into large community-based scams.
Fraudsters exploit WhatsApp groups and social trust networks to create a facade of legitimacy. When a familiar local jeweller or trusted individual is involved, victims often neglect to verify the authenticity of the offers. This psychological trust becomes a powerful weapon in such scams.
Once gold or money is collected, the accused frequently disappears or routes assets through multiple channels to evade recovery, complicating resolution efforts without swift digital tracing.
Police Warnings and Asset Tracing
In light of this incident, police officials have urged citizens to exercise caution when engaging with informal investment or discount-based gold schemes circulated via messaging apps. They emphasized that legitimate jewellers operate under verifiable billing systems and regulated pricing, and any unusually high discounts should be treated as a red flag.
Authorities are currently tracing the accused’s movements and investigating whether he utilized multiple bank accounts or intermediaries to transfer the allegedly collected funds. Efforts are also underway to assess the total value of gold and cash involved in the case.
The incident has sparked widespread anxiety in Malur, particularly among women who participated in the WhatsApp group. Investigations are ongoing, and police have assured that all possible legal and technical measures will be employed to recover the stolen assets and bring the accused to justice.
For further details, visit the original reporting source: the420.in.
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