New Delhi | The Southwest District Cyber Police recently busted a large AI-based investment scam. Eleven individuals have been arrested for creating a fake video of the Union Finance Minister using artificial intelligence and circulating it on social media to lure people into making investments. The accused reportedly defrauded investors of a total of ₹22.67 lakh. Police stated that the gang was operating on behalf of international cybercriminals based in Cambodia.
The arrested accused include Tajinder Singh alias Lucky (26), Ashish Saini (24), Shiv Dayal Singh (28), Shiva (18), Giriraj Kishore (18), Ramdev Sangla (50), Praveen Kumawat alias Lucky (20), Deepak Mewada alias Dev (35), Trilok Chand Nayak (32), Pratibha alias Payal (25), and Satish (34). Police recovered 40 mobile phones, 92 fake SIM cards, 39 passbooks/checkbooks, 27 ATM cards, laptops, six UPI scanners, a printer, forged documents, and other digital devices from the accused. Authorities are analyzing the entire network of the gang.
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A 60-year-old victim told police that he had seen a video of the Finance Minister on social media, which urged him to invest using a particular app. Initially, a small profit was shown to build trust, but the accused later stopped communicating. In this way, the gang defrauded him of ₹22.67 lakh.
Misuse of AI Technology: Police investigations revealed that the accused used artificial intelligence to create a video that appeared to show the Finance Minister encouraging investments through a specific app. The video was widely circulated on Facebook and other social media platforms, tricking people into falling for the scam.
Fake Call Centers and Mule Accounts: Based on technical analysis, call detail records, and money trail investigation, police discovered a fake call center operating in Rohini and Netaji Subhash Place. From this center, funds were transferred through mule bank accounts into multiple accounts. During raids, Tajinder Singh, Ashish Saini, Shiv Dayal Singh, Shiva, and Giriraj Kishore were arrested on site. Further investigation revealed that the gang’s backend office was operating in Deep Vihar, Rohini, and the network extended to Mumbai and Rajasthan. Four more accused—Ramdev Sangla, Praveen Kumawat, Deepak Mewada, and Trilok Chand Nayak—were arrested in Rajasthan, while Pratibha alias Payal and Satish were arrested in Delhi.
The accused admitted managing mule accounts and handing them over to a person named PK in Mumbai. Account details were shared via WhatsApp and other online platforms. The entire network was being run for Cambodia-based cybercriminals who lured Indian citizens with promises of high returns and orchestrated investment scams.
Police are conducting an extensive investigation into the gang’s digital network to determine the total extent of defrauded funds and trace other victims. The Cyber Police warned that misuse of AI and digital technologies for scams is rising rapidly, urging citizens to remain cautious and verify any investment offers before participating.
Expert Opinion: Cybersecurity experts have noted that the misuse of artificial intelligence is increasing, and people should avoid trusting any video or link without proper verification.
