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2 clusters · 2 sources · 20 days · First seen · Last updated

Karnataka financial fraud investigations

Overview

In July 2026 Karnataka police announced the dismantling of a fake gold‑loan operation that had raised about Rs 28.9 lakh from borrowers. The raid signalled a broader crackdown on fraudulent lending schemes in the state.

A few weeks later, in early August, investigators in Bengaluru’s Commercial Crime Branch opened a separate case after a 40‑year‑old woman from Andhra Pradesh, residing in the city, reported losing roughly Rs 2.5 crore. She had been persuaded by a self‑styled godman and his associates to hand over the money in exchange for a promised Rs 10 crore loan that would be repaid after a rumored RBI fund release. When the repayment failed, the suspects threatened her with violence. Police filed an FIR and began tracing the perpetrators.

Both incidents illustrate a pattern of elaborate financial scams targeting individuals in Karnataka, prompting law‑enforcement agencies to intensify investigations and public warnings against such frauds.

Entities

Afsar Pasha · Kumuda · Shankar · Bharat (Devaraj)

Timeline

  1. 21 days ago

    [CRIME] 2 sources
    Bengaluru woman loses Rs 2.5 crore to fake godman and accomplices

    A Bengaluru woman sold her house and gave Rs 2.5 crore to a fake godman and two accomplices, who promised a large RBI‑linked loan but vanished, prompting a police FIR.

  2. about 1 month ago

    [CRIME] 2 sources
    Karnataka authorities dismantle Rs 28.9 lakh fake gold loan racket

    Karnataka police busted a fake gold loan fraud that stole about Rs 28.9 lakh from banks, arresting two suspects and launching a hunt for three others.

Sources

english.publictv.in · newindianexpress.com