Kozhikode, 15 Nov (H.S.):
A resident of Naduvannur in Kerala’s Kozhikode district lost Rs 1.41 crore in an online investment scam after being lured by an AI-generated video falsely showing Union Finance Minister Nirmala Sitharaman promising substantial returns from online trading, police said.
The Kozhikode Rural Cyber Crime Police registered an FIR and launched an investigation following a complaint from the victim, a resident of Nochad near Naduvannur. This is the third similar fraud reported in the district within a week, police said.
According to the complaint, fraudsters circulated the fabricated video on social media to promote an online trading platform. The clip purported to show Sitharaman assuring investors of large profits, lending apparent credibility to the fraudulent investment offer.
Believing the video to be genuine, the complainant clicked on an accompanying link and was subsequently drawn into the scheme.
Police said the fraud took place between June 6 and November 4, 2025. During this period, the complainant transferred a total of Rs 1.41 crore from two bank accounts through 30 separate transactions.
The fraudsters repeatedly encouraged further investments by promising attractive returns at every stage. The complainant continued transferring money in the expectation that the investments would generate the profits promised by those operating the platform.
However, neither the invested amount nor the promised returns were paid back. The complainant subsequently realised that the trading offer was fraudulent and approached police.
Explaining the delay in reporting the case, the victim told investigators that he had continued hoping to recover the money.
The Rural Cyber Crime Police are examining the bank accounts involved in the transactions and scrutinising phone calls linked to the alleged fraud. Investigators are focusing on the financial transfers and communications to identify those responsible for inducing the complainant to part with his money through the fabricated video and trading promises.
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Hindusthan Samachar / Arun Lakshman