Follow us on Google News
A 63-year-old Kerala man allegedly lost ₹1.41 crore after a fake video of Finance Minister Nirmala Sitharaman promoted online trading.
How Did the Fake Video Lead to the Fraud?
Police in Kerala’s Kozhikode district have registered a case after a 63-year-old man was allegedly cheated of ₹1.41 crore through an online trading scam involving a fake video of Union Finance Minister Nirmala Sitharaman.
The complainant, Abdurahiman P., a resident of Nochad in Nadapuram, told police that he came across a Facebook video apparently showing the Finance Minister promising attractive returns through online trading. Believing the video to be genuine, he clicked the accompanying link and followed the instructions provided by the fraudsters.
https://the420.in/fcrf-certified-chief-ai-officer-second-cohort-november-2026/
How Was ₹1.41 Crore Transferred?
According to the Kozhikode Rural Cyber Crime Police, the alleged fraud occurred between June 6, 2025, and November 4, 2026. During this period, the complainant transferred money through 30 separate transactions from two bank accounts.
Police said the transfers amounted to approximately ₹1.41 crore, which was deposited into different bank accounts controlled by the suspected fraudsters. The transactions continued over several months as the victim expected returns from the purported online trading investment.
When Did the Victim Discover the Scam?
The complainant became suspicious after he neither received the promised profits nor recovered his invested money. He subsequently approached the police, who registered a preliminary information report on Saturday based on his complaint.
Police said the victim initially delayed reporting the incident because he hoped to recover the money he had invested. Investigators are now examining the financial transactions and the accounts that received the funds to establish how the alleged fraud was carried out.
What Action Have Police Taken?
The Kozhikode Rural Cyber Crime Police have registered a case under Section 318(4) of the Bharatiya Nyaya Sanhita and Section 66D of the Information Technology Act. The identities of the accused have not yet been established.
Investigators are attempting to trace those responsible through the bank accounts used to receive the money and the associated phone calls. The case illustrates how fraudulent investment promotions using fabricated videos of prominent public figures can persuade victims to transfer substantial amounts over an extended period.
Police investigations are continuing to identify the individuals behind the transactions and establish the movement of the money through the recipient accounts.
