A major alleged gold fraud case has emerged in Malur, where around 180 women were reportedly cheated through a WhatsApp-based jewellery scheme, resulting in losses estimated at nearly ₹8 crore. The incident has sparked concern among residents, and a formal police complaint has been filed seeking action against the accused and recovery of the valuables.
According to preliminary reports, the accused, identified as Bundaram, operated a jewellery business named Ramdev Jewellers in the Maruti Layout area of Malur. Originally from Rajasthan, he had previously worked at Solanki Jewellers for nearly 15 years before starting his own venture.
Police sources said the accused allegedly gained the trust of local women by promoting attractive offers on gold ornaments. He reportedly promised jewellery at lower prices and reduced wastage charges in exchange for old gold and advance payments.
To expand the scheme, he allegedly created a WhatsApp group that included around 180 women from the locality. Through the group, he regularly shared jewellery designs and promotional offers, encouraging members to purchase gold at prices significantly lower than prevailing market rates.
Over time, several women reportedly handed over gold ornaments, including mangalsutras, thalis, earrings, and other valuables. Some victims are also believed to have made additional payments through bank transfers and credit cards, believing they were participating in a legitimate jewellery purchase program.
The alleged fraud came to light after the accused reportedly shut down operations and disappeared. Local residents stated that he has not been seen at the shop since last week, while his mobile phone remains switched off.
Following the incident, affected women approached the local police station and submitted a collective complaint. Authorities have initiated a preliminary inquiry and are examining transaction records, customer details, and communications linked to the WhatsApp group.
Investigators suspect the case may involve a planned fraud model that combined community trust, social media outreach, and bulk collection of gold assets. Police are also tracing financial transactions and digital records to determine the movement of funds and valuables.
Officials have urged citizens to remain cautious about discount-based gold schemes circulated through messaging platforms and to verify the authenticity of offers before making payments or handing over valuables.
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