Bengaluru: The Tumakuru police have revealed that victims have lost at least Rs 6 crore in the alleged SLV Mahila Mart scam. This women-led retail supermarket franchise, which promised a work-from-home packing business, collected investments from over 100 victims in Tumakuru and surrounding areas.
How the Scam Operated
A senior police officer stated that the firm offered a work-from-home facility along with a monthly return of Rs 26,000 for every Rs 1 lakh deposited by investors. As of Tuesday, 48 victims have filed complaints. An investigating officer noted that some victims even encouraged their friends and relatives to invest in the franchise.
Wider Impact in Karnataka
The scam is not limited to Tumakuru. Hundreds of victims from Haveri in North Karnataka have also filed similar police complaints against SLV Mahila Mart and its office-bearers, accusing them of duping their investment money and commissions. Haveri police estimate the racket to be worth between Rs 6 crore and Rs 8 crore.
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