Self-employment promise turns into alleged multi-lakh scam impacting hundreds of women in Tumakuru
The alleged scam has triggered concern across Tumakuru as victims come forward with similar stories reported earlier in Haveri. The case has now become part of a broader investigation into self-employment-based deposit schemes that reportedly operated across multiple districts in Karnataka, raising questions about regulatory oversight and financial awareness among rural and semi-urban investors.
Tumakuru: The alleged financial fraud linked to SLV Mahila Mart, initially reported in Haveri, has now surfaced strongly in Tumakuru district, exposing a wider network of suspected deposit collection under the guise of self-employment opportunities. Women in large numbers have alleged that they were cheated after investing lakhs of rupees in hopes of home-based income and assured returns.
SLV Mahila Mart fraud network expands in Tumakuru district
The SLV Mahila Mart unit operating from Jayanagar in Tumakuru city is now under scrutiny after multiple women accused the company of collecting heavy security deposits ranging from several lakhs to crores. The firm allegedly targeted housewives and educated women by promising structured home-based work and guaranteed monthly income.
Home-based work model used to attract women investors
According to complaints, the company offered a work-from-home model where women were asked to deposit a “security amount” to receive packaged household items such as incense sticks, candles, and dustpans. Participants were instructed to pack these items at home and return them to the company.
The scheme allegedly promised monthly payouts along with partial returns of the deposited amount in installments. Victims were told their full investment would be returned after completion of the cycle, effectively doubling their money in a short period.
“Women were assured fixed monthly income along with complete refund of deposits, making the scheme appear safe and profitable.”
Company shuts operations after collecting funds till April
Reports indicate that SLV Mahila Mart had been operating quietly in Tumakuru for nearly a year, collecting deposits from women until April. Soon after raising substantial funds, the office was allegedly shut down without prior notice, and all operations stopped abruptly.
When investors attempted to contact the office for clarification and refunds, they found it closed. Many victims initially refrained from approaching authorities due to fear of social embarrassment and family pressure. However, the emergence of similar complaints in the Haveri case encouraged several women to file complaints.
Women victims narrate financial distress and hidden borrowing
The accounts of affected women highlight severe financial distress. Several victims reportedly mortgaged property documents and took bank loans without informing family members, trusting the promised returns.
Others invested pooled money collected from relatives and friends, hoping for quick financial improvement. The sudden shutdown has left many families struggling with debt and emotional trauma.
“Many women invested borrowed money and family savings, believing the company’s assurance of guaranteed returns.”
Jayanagar police initiate inquiry after NCR registration
Following complaints, the Jayanagar Police Station has registered a Non-Cognizable Report (NCR) and initiated preliminary investigation into the operations of SLV Mahila Mart in Tumakuru.
Authorities are collecting details about the company’s financial transactions, investor records, and operational structure. Police are also recording statements from victims to assess the scale of alleged fraud and identify those responsible.
Officials are expected to expand the investigation to examine whether the same network operated across multiple districts under similar promises of self-employment-based earnings.
What victims are asking
Victims are primarily seeking clarity on three key concerns:
- Where did the collected investment money go
- Whether any refunds will be issued
- Who is responsible for the sudden closure of the company
