₹10 Crore Work-From-Home Scam Alleged in Karnataka's Kolar

A work from home investment scam that could be worth over ₹10 crore has emerged in Karnataka’s Kolar district. Hundreds of investors gathered outside the office of a private company.

Sri Kalikadevi Enterprises, the company at the center of the allegations, started operations about a year ago in Palasandra Layout, Kolar. The complainants allege that it offered work from home opportunities to pack incense sticks, camphor, paper plates, and paper cups.

The victims say the company collected security deposits from investors ranging from ₹1 lakh to ₹30 lakh and promised salaries of a monthly salary of ₹1 lakh and even higher returns if investors invested in the scheme. People who were looking for stable income without leaving their homes were drawn to this scheme, they say.

The company paid salaries regularly for nearly a year according to investors and thus established trust with investors, they said, for the sake of building trust. Such timely payments, they added, encouraged existing investors to make more money from the company's investments and persuaded many others to join the scheme through word-of-mouth recommendations.

With confidence in the business, the company increased and opened branches in Budikote, Malur, and other parts of Kolar district. Complainants say the growth further enhanced the credibility of the company and there was a sudden rise in the number of investors.

The victims say 2,000 to 3,000 people invested in this scheme and the total investment is as much as ₹10 crore. Many of those affected say they borrowed money from their savings and/or retirement funds or borrowed money after believing the company’s promises of regular monthly income.

When payments stopped, investors began questioning the company and eventually gathered outside its office to demand answers and the return of their money. The protest drew enormous attention as affected individuals accused the firm of operating a fraudulent investment scheme disguised as a work-from-home employment opportunity.

The allegations are under investigation and authorities will determine the nature of the business. At the time of reporting, the allegations remain under investigation and officials have yet to announce any inquiry or legal action.

The incident serves as another reminder for people to be cautious when deciding on work-from-home opportunities that require large upfront deposits or investment. Financial experts say to verify companies’ legitimacy, monitor regulatory filings, and avoid schemes that offer guaranteed returns or salaries in exchange for large advance payments.