A Chennai advocate has alleged that he was cheated after a fake video featuring Union Finance Minister Nirmala Sitharaman was used to promote a fraudulent investment platform promising extraordinary returns.
Sasikumar, a resident of Anna Nagar, said he came across an advertisement for “Quantum AI Investment” on social media. The video purportedly showed the Finance Minister endorsing the platform and claimed that an investment of ₹22,000 could generate returns of up to ₹40 lakh with “no risk” and a “100% government guarantee”.
The advertisement was allegedly followed by phone calls from unidentified individuals who persuaded him to invest through the platform.
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What Made the Investment Offer Look Genuine?
The video was allegedly designed to make the investment scheme appear to have government backing.
According to Vineet Kumar, founder of the Cyber Peace Foundation, the video was a deepfake created using artificial intelligence. He said the Finance Minister had not endorsed the investment platform through any official channel.
A deepfake is digitally manipulated audio or video that can make a person appear to say or do something they never actually said or did. In fraud cases, the technology can be used to borrow the credibility of a well-known person and make a fake offer look legitimate.
The use of a minister’s face or voice can be particularly effective because victims may assume that a government official would not be associated with an unverified investment scheme.
Four Plans, Multiple Payments
After being contacted by the alleged agents, Sasikumar said he was introduced to four investment plans — Invistro, Bulliontrade, Savexa and Proxtrend.
Under the Invistro plan, he allegedly invested ₹12 lakh. He was assigned an account manager identified as Sahab, who Sasikumar alleged repeatedly pressured him to put in more money.
He later deposited another ₹94,000 under the Bulliontrade plan. An account manager identified as Ishan Rathore was assigned to him, but Sasikumar said he eventually stopped receiving responses to his messages.
The Savexa plan allegedly involved another payment and a subsequent refund process. Sasikumar said he was assured that monthly returns would be paid, but he has not received any money from the agents.
Despite not receiving the promised returns, he said the agents continued to maintain his confidence by making further assurances. He currently believes that ₹75 lakh will eventually be transferred to his bank account.
The claims regarding the investments, agents and promised returns are allegations made by Sasikumar and will require verification through investigation.
Fake Finance Minister Video Had Been Flagged Earlier
The use of the Finance Minister’s image in an investment scam is not new.
In May, a similar video circulated on social media allegedly showing Sitharaman promoting an investment scheme offering easy monthly returns. The Press Information Bureau’s Fact Check Unit later said the video was fake and AI-generated and clarified that the government had not endorsed the scheme.
The Tamil Nadu Cyber Crime Wing has reportedly not received a complaint about the particular video involved in the present case so far.
The government has repeatedly advised people to be cautious about investment offers promoted through suspicious social media advertisements and links.
Why Guaranteed Returns Should Raise Alarm
Cybercrime experts say unusually high returns combined with claims of government guarantees are major warning signs.
A legitimate investment opportunity should not need a fake endorsement from a minister to attract investors. Before transferring money, investors should independently check whether the entity is registered with the relevant financial regulator, verify its official website and confirm the bank account receiving the payment.
Cybercrime expert and former IPS officer Prof. Triveni Singh has also cautioned that investors should not judge the authenticity of an investment scheme simply because a video appears to show a minister, celebrity or other prominent person promoting it.
The Chennai case shows how AI-generated content can add a new layer of credibility to an old investment-fraud tactic. A convincing video may create the first impression of legitimacy, after which fraudsters can use account managers, repeated communication and promises of large returns to keep a victim invested.
For users, the safest approach is to verify the investment independently rather than trusting the advertisement that introduced it.
What this means for you: A video showing a minister or celebrity promoting an investment is not proof that the scheme is genuine. Check the entity’s regulatory registration and official channels yourself, and treat “guaranteed” or unusually high returns as a major warning sign.
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