Bengaluru man, 82, loses ₹28.5 lakh in fake online investment scheme
An 82-year-old resident of Whitefield in Bengaluru has been defrauded of ₹28.5 lakh in an online investment scam that allegedly used a morphed video of Union Finance Minister Nirmala Sitharaman. The Whitefield CEN Crime Police registered a case on Monday after the victim filed a complaint, highlighting yet another instance of cyber fraud targeting senior citizens.
According to the complaint, on April 14, 2026, the victim came across a social media video related to the Finance Minister and investment opportunities. Shortly afterwards, an unidentified person, introducing himself as Rajveer, contacted him and recommended investing through a particular website. The caller allegedly promised high returns and said the scheme was genuine and safe.
Subsequently, another individual, claiming to be Ashok Kohli, reached out to the victim on WhatsApp using several foreign phone numbers. He shared a link to the platform and helped the victim register. The accused repeatedly assured him that the money could be withdrawn at any time, along with accrued profits, as per the complaint.
Believing these claims, the victim initially invested ₹18,587. Over the following days, he was persuaded to deposit larger amounts, with the promise of even higher returns. He eventually transferred a total of ₹28.5 lakh to multiple bank accounts provided by the fraudsters.
When the victim attempted to withdraw his funds, the accused demanded additional payments under various pretexts. It was then that he realised he had been cheated and approached the Whitefield CEN Crime Police, seeking both legal action and the recovery of his money.
The police have registered a case and are investigating the bank accounts, phone numbers, WhatsApp communications and the fake investment platform involved in the alleged fraud. An officer said they are also examining the morphed video to trace its origin and the extent of digital manipulation. The accounts have been flagged, and efforts are underway to trace the beneficiaries.
The case is similar to several others in which callers impersonate financial advisors or use WhatsApp to share fraudulent links. The police said they are working with banks to understand the money trail and recover funds where possible.
In an advisory to the public, the police urged people not to trust investment offers that circulate on social media or arrive via unsolicited messages. They cautioned against sharing personal, banking or OTP details with unknown callers. They also advised thorough verification of any investment platform with the Securities and Exchange Board of India (SEBI) or other authorised bodies before parting with money. They reminded that legitimate investment schemes never guarantee high returns without risk.
Experts have noted that fraudsters often use morphed videos of political leaders, business figures and celebrities to add legitimacy to their schemes. Such videos are increasingly common on social media and can be difficult to identify, especially for elderly and less tech-savvy users. Families are urged to talk to senior citizens about such risks and encourage them to report suspicious contacts immediately.
Anyone who suspects fraud can reach the national cyber crime helpline at 1930 or file a complaint online at cybercrime.gov.in, officials said.
